Sully: Economic impact of bars and restaurants closing

SAN DIEGO (KUSI) – KUSI Contributor & AM 600 KOGO​ Sully Sullivan joined Good Morning San Diego to discuss the economic impact of bars and restaurants closing in several countries throughout the state of California.

Stocks in Europe and Asia were mixed after reports underscored the fragility of the recovery as COVID-19 levels continue to mount in hotspots around the world.

Markets around the world roared back last quarter on hopes that economies are beginning to pull out of the severe, sudden recession that struck after governments shut down businesses in hopes of slowing the spread of the coronavirus. But a recent resurgence of COVID-19 cases, particularly in the U.S. South and West, has raised doubts about whether those hopes were premature or overdone.

In the United States, a report said that the manufacturing sector returned to growth last month, a much better reading than the slight contraction that economists were expecting.

Earlier, a separate report suggested private employers hired more workers than they cut in June. Payroll processor ADP also revised its previously reported numbers for May, saying that private employers actually added nearly 3.1 million jobs that month instead of cutting 2.8 million.

But the June growth in ADP’s payroll report wasn’t as strong as economists expected. The U.S. government’s more comprehensive monthly jobs report will arrive Thursday.

Categories: Coronavirus, Good Morning San Diego, In Studio Guests