Though several industries have been hit very hard, the worst-case scenarios spun in late September have not materialized. In particular, households' views of the economy have remained relatively stable, all things considered. In fact, in one of the most recent readings, consumer confidence was not much lower than it had been in August.
Therefore structural improvements of our economy and the narrowed internal and external imbalances have been of particular importance as they boosted our resilience to negative effects of global factors.