Blog

As the U.S. economy struggles to recover from the catastrophic impact of the COVID-19 pandemic, and amidst surging COVID cases across the nation, an economic expert says there is reason for optimism.

Kevin Depew, Deputy Chief Economist for RSM US LLP, made his comments during a virtual GJM Manufacturing & Distribution Financial Executive Roundtable on Thursday, November 19, 2020. Depew was the featured speaker in the GJM webinar. His presentation focused on the current state of the economy, the impact of the presidential election and the significant challenges brought on by the pandemic.

Depew says the current second wave of the pandemic is a major risk to our economy, including manufacturing, with employment seeing the main impact. He discussed the potential for further fiscal aid once a new administration is in place and struck an optimistic tone when referring to the potential economic impact once a COVID-19 vaccine becomes available.

Depew says RSM’s team of economic experts is of the belief that once the pandemic is under control, what awaits is a robust economy. He says it is a matter of the business sector getting through the next 6 to 9 months before vaccines become available for the general population.

To learn more, you can view the full recording of Depew’s presentation. You can also find more in the GJM COVID-19 Resource Center. And, as always, we encourage you to be in close contact with your GJM Manufacturing Specialist Team as your business navigates this uncertain economy.

GJM hosts Manufacturing & Financial Executive Roundtables three times a year for area manufacturers. The events are designed to bring businesses together to share ideas and hear from experts on varying topics. If your manufacturing or distribution business is interested in receiving invitations to future roundtable events, please email info@gjmltd.com.

GJM is a member of the RSM US Alliance.

RSM US Alliance member firms are separate and independent businesses and legal entities that are responsible for their own acts and omissions, and each are separate and independent from RSM US LLP. RSM US LLP is the U.S. member firm of RSM International, a global network of independent audit, tax and consulting firms. Members of RSM US Alliance have access to RSM International resources through RSM US LLP but are not member firms of RSM International.

Established in 1996, Gilmore Jasion Mahler, LTD (GJM) is the largest public accounting firm in Northwest Ohio, with offices in Maumee and Findlay. Locally owned, GJM offers cloud-based accounting and provides comprehensive services including assurance, business advisory, tax, risk advisory, healthcare management and outsourced accounting. The Firm’s professionals specialize in industries including construction & real estate, healthcare, manufacturing & distribution and utilities.