Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Denver news in your inbox
Catch up on the most important stories affecting your hometown with Axios Denver
Des Moines news in your inbox
Catch up on the most important stories affecting your hometown with Axios Des Moines
Minneapolis-St. Paul news in your inbox
Catch up on the most important stories affecting your hometown with Axios Twin Cities
Tampa Bay news in your inbox
Catch up on the most important stories affecting your hometown with Axios Tampa Bay
Charlotte news in your inbox
Catch up on the most important stories affecting your hometown with Axios Charlotte
Small business owners and employees have been less sanguine about a delay in fiscal spending than stock traders.
Driving the news: A new survey from Alignable finds that many small businesses are growing more worried about "a severe cash crunch," with 42% saying they could collapse by the end of the fourth quarter.
- Small business owners' top concern was that they would completely run out of financial reserves.
- 45% of all small businesses have earned 50% or less of their pre-pandemic revenue — eight months into the pandemic.
- When asked what would help them the most right now, 35% said reducing the COVID-19 case levels to increase consumer confidence.
Heads up: Goldman Sachs economists estimate that winter weather will reduce total restaurant spending by 3%–4% and consumption by 0.2 percentage points.
- This translates to a 0.3 percentage point hit to real GDP growth in Q4 and a 0.1 percentage point hit in Q1 next year, followed by a rebound as temperatures rise.