Meet the Team

Capital Market Impact Weekly market commentary

illustration of a telescope in front of green background

Cycle Watch: December 2020 – Post election progress

December 15, 2020

Positive economic growth numbers since May suggest that the COVID-19 recession, which began in February, may be the most severe and the shortest recession in the post-WWII period. Given the sharp gaps between the current levels of economic activity and what it would be at full employment, the economy should be able to grow at an above-trend pace for a while. But this is a double-edged sword, as the gaps are so large – given the record decline in economic activity in the March-April period – that it will take several years to close them. While non-farm payrolls grew by a solid 245,000 for November, it was well below consensus expectations and by far the weakest monthly pace of the current recovery.

Read more in this month’s Cycle Watch.

Disclaimers

  • This material is not a recommendation to buy, sell, hold or roll over any asset, adopt an investment strategy, retain a specific investment manager or use a particular account type. It does not take into account the specific investment objectives, tax and financial condition or particular needs of any specific person. Investors should discuss their specific situation with their financial professional.

    Except where otherwise indicated, the views and opinions expressed are those of Nationwide as of the date noted, are subject to change at any time and may not come to pass.

    Past performance does not guarantee future results. Current performance may be lower or higher than the past performance shown.

    Nationwide Funds are distributed by Nationwide Fund Distributors LLC (NFD), member FINRA, Columbus, Ohio.

    Nationwide Investment Services Corporation (NISC), member FINRA, Columbus, Ohio.

    Nationwide, the Nationwide N and Eagle and Nationwide is on your side are service marks of Nationwide Mutual Insurance Company.

    © 2020 Nationwide

    NFN-1117AO (11/2020)

NFN-1117AO