Economic Update with Nielsen - 08/14/20

Almost all businesses have had forecasts adversely impacted by pandemic driven volatility. Some industries saw unprecedented gains while others saw severe losses. A ‘new norm’ is needed for strategic planning and forecasting. Businesses now need to pay very close attention to relevant external influences and to economic and industry signals, especially those that are leading indicators for your future business.

Predictive analytics, artificial intelligence and big data, especially economic and industry data, now present a real option for organizations looking to make this transformational change to new norm planning. Don’t be blindsided again by market and industry volatility. Get more insights today.

Prevedere’s U.S. economic outlook focuses on one of the hottest housing markets in history. In this update, Andrew Duguay, Prevedere’s Chief Economist, discusses the housing market, its impact on inflation, and the long-term effects of rising home prices.

In this 13-minute discussion, Andrew Duguay, Prevedere’s Chief Economist, discusses a paradox of U.S economic recovery – how can we be in a situation where there are 8.5 million fewer Americans employed, yet the job market feels red hot?

Andrew answers this question by providing data, in addition to the unemployment rate, to get a market feel estimated rate. He then provides perspective on how businesses can interpret this information and illustrates comparisons to both recessions past and times of normalcy.

During the discussion, Andrew also provides an update on expected GDP growth, what he expects for consumer demand, and how that impacts wages and margins.

Almost all businesses have had plans and forecasts adversely impacted by COVID. Some industries saw unprecedented gains while others saw severe losses. It is now critical to incorporate external data and economic volatility into business planning processes.

With extensive machine learning, it is also possible to make predictions from external data sources, especially those industry and market signals that correlate to your specific lines of business.

Invest 6 minutes of your day to find out how.

In this podcast, the third in a C-Series for Resilience Planning in a COVID economy, Chris Wheeler, Prevedere VP of Partnerships, and Tony Cioffoletti, a founder, CEO, board member, and advisor discusses the critical role both internal and external data plays in resilience planning.

In this podcast, the second in a C-Series for Resilience Planning in a COVID economy, Chris Wheeler, Prevedere VP of Partnerships, and Evan Smith, a former operating executive, discuss how scenario planning helps leaders be successful in the current recession. Early in the pandemic, executives trying to navigate the economic crisis the pandemic was creating turned to “scenario planning” as a guide.  With the continued uncertainty of the future, the capability to efficiently develop and quickly iterate scenarios for planning will create a competitive advantage for corporations.  It will be paramount for corporations to align platforms, processes, and resources to support scenario planning as a normal requirement for succeeding in business. 

In the Prevedere CEO Virtual Fireside Chat series, Rich Wagner is joined by industry thought leaders to discuss the challenging economic landscape and how external data and AI will help shape the future of planning and forecasting. In this episode, Rich Wagner had the opportunity to ask Dr. Barry Keating, faculty member in the Business College at the University of Notre Dame, about how COVID-19 has impacted enterprise companies and their ability to forecast and plan. With more than 40 years of teaching forecasting, Dr. Keating brings a wealth of knowledge and perspective to help business leaders adapt to the current economy and what to expect for the future of forecasting.

In today's episode, we go inside the board room for an overview of the current U.S. economic situation by Thomas Kilbane, a senior economist here at Prevedere, and three distinguished guests. Joining the conversation is Patrick Slattery, a former Big-4 partner in strategic transformation, Anthony Cioffoletti, the founder of a consulting firm focused on business technology alignment, and Evan Smith, a former operating executive in chemicals, financial services, and tech. Patrick, Tony, and Evan have been interviewing executive leaders on their experience responding to the effects of Covid19 - as they build new futures for their organizations. They bring a wealth of knowledge and contribute to a dynamic Q&A session that illustrates the ongoing conversations Prevedere has with executives and board members across the country, helping to shape their strategic planning.

In this episode, the first in a C-Series for Resilience Planning in a COVID economy, Chris Wheeler, Prevedere VP of Partnerships and Patrick Slattery, a former Big-4 partner in strategic transformation, discuss emerging finance executive themes regarding the health crisis and recession. They talk not only about culture, resilience, command and control, but also opportunities for finance to embrace the challenge. At some point executives need to flip the switch from responding to building for resilience using economic indicators and scenario planning.e rising at staggering rates. This positive growth juxtaposed with a significant segment of the population now struggling to pay mortgages is causing concerns that a housing bust may be on the horizon.

In his latest economic report, Mr. Andrew Duguay, Prevedere’s Chief Economist, discusses how unpaid state-level contributions to federal unemployment benefits across most of the United States have created record-low consumer sentiment. Consumers who have suffered through delayed and significantly lowered unemployment payments remain uncertain about the future.

Mr. Duguay also delves into somewhat contradictory housing market data. In response to COVID-19, home buying trends, such as buying second homes and moving to more rural areas, are rising at staggering rates. This positive growth juxtaposed with a significant segment of the population now struggling to pay mortgages is causing concerns that a housing bust may be on the horizon.

What does the amalgam of the latest data mean for economic recovery? Find out in Prevedere’s latest report.