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Small businesses don't see things returning to normal anytime soon. The Delta variant is causing a surge in COVID-19 cases, and consumers are shopping less out of fear of contracting the virus.
"It's not so much that they are pessimistic, but that they are less optimistic about growth," Richard Curtin, a University of Michigan economist, told the Journal. These survey findings came after the University of Michigan reported last week that consumers' confidence of economic conditions had plunged to its lowest level since late 2011 due to Delta variant concerns. that while American shoppers have been helping lead economic recovery as the country reopened from lockdown during the pandemic, the Delta variant could quickly change that, according to Bank of America.
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