Consumer confidence is rising and generally that prompts that people want to buy things. Much of our economy (I believe around 75%) is driven by consumer spending. When confidence rises people spend more and the economy improves. We should remember that one of the reasons we have boom and bust economies is because of spending, supply, and contraction/expansion of that supply/demand network. That will hold true until we move into a higher level digital platform where such flow disruptions are lessened through better management and preemptive cycle adjustments (One of the benefits of big data. There are some detractors as well. I don't know. Sounds ok. )
The following was taken from The Conference Board.
"The Conference Board Consumer Confidence Index® was relatively unchanged in July, following gains in each of the prior five months. The Index now stands at 129.1 (1985=100), up from 128.9 in June. The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—rose from 159.6 to 160.3. The Expectations Index—based on consumers’ short-term outlook for income, business, and labor market conditions—was virtually unchanged at 108.4, compared to 108.5 last month."
You can tell from the charts on their page that the pandemic wasn't as long term disruptive as thought because the entire world economy shuttered at once like a reset button. There was enough digital technology available to push companies to adapt quickly and that will continue as more mature models are developed (remember that digital business models are relatively new). While the economy slowed much of it was the acceptance of consumers who banked their money and came out strong with spending.
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