US Recovery Tracker offers optimism despite several headwinds

The US Recovery Tracker is back within reach of its pre-Covid baseline, rising 0.4ppts to 99.8 in the week ended March 4 – its highest level since mid-December. Continued improvement in health conditions drove the increase, and mobility rose above its pre-virus level. 

What you will learn:

• Employment conditions advanced to a 12-week high, while both demand and production posted modest gains. Financial conditions were the lone detractor, tightening on geopolitical and inflation concerns.
• Encouragingly, nearly all of our State Recovery Trackers recorded higher readings, led by gains in the East and Midwest.
• The domestic recovery remains on a solid footing despite geopolitical turmoil, higher-than-expected inflation, and tighter financial conditions.