US Recovery Tracker hobbles into 2022
The US Recovery Tracker fell 0.7ppts to 97.1 in the first week of January, down for a fourth straight week. With the holiday season drag now largely in the rear-view mirror, Omicron’s rapid spread and a more hawkish Fed drove the tracker to its lowest reading since April 2021.
What you will learn:
- Health conditions stood at their worst in 10 months, while demand weakened sharply. Financial conditions tightened, and mobility softened.
- Our State Recovery Trackers were split between gains and losses. The West lost the most ground, while the South and Midwest strengthened the most.
- Covid case rates are showing signs of slowing in mid-January, but the sharp drop in December retail sales amid elevated consumer and business caution signal that the economy is suffering an early winter chill.
Tags:
Related research
Post
Little by little—Manchester is closing the output gap
Greater Manchester has led the UK economy since 2008, driven by knowledge jobs, transport upgrades, and housing growth—but can prosperity reach its outer districts?
Find Out More
Post
Asia’s cities are reshaping the world
From Seoul to Delhi and Shanghai, Asia’s urban centres are rapidly overtaking global rivals as living standards soar. What will this mean for the balance of global economic power?
Find Out More
