US | Recovery Tracker marches steadily higher
The US Recovery Tracker rose 1.3ppts to 88.1 in the week ended March 26 on gains across most of the tracker’s six categories. The recovery maintained its momentum despite health dynamics worsening. Weekly gains were led by stronger production, driven by greater business startup activity and firmer upstream and downstream energy output.
What you will learn from this report:
- Mobility rose as better weather and looser Covid restrictions spurred more travel. Demand increased as stronger consumer purchasing power boosted spending activity. Employment rose on greater job postings and hiring.
- Public officials are confronting a conundrum: the vaccine rollout is accelerating, but new coronavirus case rates are concurrently ticking higher. Officials should be wary of premature reopening risks. Almost all states will expand vaccine eligibility to all adults by April 19, but it will take time to reach
herd immunity and only 25% of adults are currently fully vaccinated. - Regional recoveries firmed, with 42 states recording higher readings at the end of March. The boost from vaccinations was partly offset by the resurgence of the virus in some states, while mobility, activity, and employment increased.
Tags:
Related Services
Post
BoK’s monetary policy to tighten even as hiking cycle ends
Even without rate hikes, central banks' monetary policies can effectively tighten if the nominal neutral rate falls below the policy rate. We expect this will be the case for the Bank of Korea this year, as the gap between the policy rate and the nominal neutral rate widens.
Find Out More
Post
China: Emerging green shoots in Spring, but not out of the woods
We now incorporate a faster recovery from the post-Covid exit wave and raise our 2023 full-year GDP growth forecast to 4.5% (from 4.2% previously).
Find Out More