US | Recovery Tracker climbs as Americans get moving again
Our US Recovery Tracker started June with a bang, rising a strong 1.2ppts to 96.1 in the week ended June 11 following a 0.6ppts gain in the week prior. With close to 60% of US adults fully vaccinated, the economy’s ongoing reopening has lifted the tracker to its highest point in the recovery.
What you will learn:
- Mobility surged following Memorial Day weekend, while demand charged higher on increased travel and recreation. Market volatility eased, health conditions continued improving, and employment accelerated.
- As virus fear continues to recede, we anticipate consumer confidence will firm and spending on services will lift off. Already, our services sector composite tracker reached its highest level in this cycle, driven by the leisure and hospitality sector.
- Our State Recovery Trackers reported mixed progress across the country, with 25 states recording higher readings. But among the largest states, only New York and Pennsylvania gained ground.
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