These 4 economic signals suggest the COVID-19 recovery is losing steam as cases spike - Business Insider

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These 4 economic signals suggest the COVID-19 recovery is losing steam as cases spike

But that doesn't mean that the virus isn't going to damage the economy. "There's more evidence that what is really affecting economic activity throughout the United States in particular is not necessarily mitigation policies, it's anxiety over the virus itself," Ernie Tedeschi, an economist at Evercore ISI, told Business Insider.

To be sure, no one data point is a "silver bullet," said Tedeschi. While it's good to have many brand new metrics during the pandemic, "we also need to be cautious because we haven't road tested them before. We haven't kicked the tires on them in another recession," he said. OpenTable tracks seated diners from online, phone, and walk-in reservations in cities where it is present. The above data reflects only restaurants that have chosen to reopen in each given market. Homebase, a time scheduling and tracking software used mostly by small businesses, saw the number of hours worked plateau in the last week of June, which is likely to continue, according to data from the company.

 

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