Christmas came late this year for retailers, as Santa sled strait out of Washington and delivered checks to households in January, sending them on to a belated shopping spree.

As advertised, the economy is going through a rough patch before the widely expected improvement sets in.

As the curtain rises on 2021, a brighter script for the U.S. economy is about to be written. The final chapter could not come soon enough, as the gruesome health and political drama that wreaked havoc on the nation last year continues to unfold.

Along with pandemic-related headwinds, a severe nor’easter battered a major region of the economy this week, providing Covid-wary households with another excuse to avoid the perils of outdoor activity.

The deadlock in Congress over fiscal aid shows no sign ending before the end of the year.

Merry Christmas from your friends at AIM!

The loss of 22 million paychecks in March and April together with harsh lockdown restrictions vaporized consumer spending and drove the economy into its worst quarterly contraction on record.