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Sinking oil prices = sinking economy?

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Falling oil prices could subtract 200,000+ mining and related payrolls this year, weigh on average wage growth, and reduce capex. This will dampen the economic recovery from any Covid-19-induced economic weakness. Still, a U.S. recession call at this time is premature, given the potential for sizeable monetary and fiscal stimulus and lack of real economic data to date that reflects weakness.

Ned Davis Research | Economics | U.S. Focus | Monthly

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