Reopened states revive economy as doomsday predictions don’t materialize

Positive economic news poured in from reopened states Wednesday as President Trump hosted the governors of Arkansas and Kansas at the White House, while Florida’s governor blasted the media for incorrectly predicting that he ended the state’s coronavirus shutdown too soon.

Arkansas Gov. Asa Hutchinson, a Republican, told the president in a White House meeting that his state is “back to work” and that the state’s sales tax revenue likely will bounce back faster than expected.

“All of our retail stores are open, all of our retail establishments totally are open, our gyms are open,” Mr. Hutchinson said. “Our barbers are open, our restaurants.”

Stocks rose to more than 10-week highs Wednesday as investors focused on signs of the economy reopening. The S&P 500 gained more than 1.6%, to 2,972 and is up more than 30% from its low two months ago.

ConservativeChick

Article URL : https://www.washingtontimes.com/news/2020/may/20/reopened-states-revive-economy-doomsday-prediction/