US | Recovery Tracker advances toward its pre-Covid level
The US Recovery Tracker rose 0.8ppts to 91.2 in the week ended April 16. Improvement in four of the six components kept momentum solid, though the gain was softer than the 1.4ppts of average weekly growth since early March.
What you will learn:
- The labor market strengthened on the back of greater hiring and job postings. Financial conditions loosened thanks to lofty equity prices and lower volatility, while health conditions continued to improve.
- Mobility and demand fell back slightly, but this appears to be a consolidation rather than a reversal in the strong upward trend, as flying activity, hotel demand, and retail spending steadied at elevated levels..
- Regional recoveries remained buoyant, with 41 states recording higher readings. Southwest and Mountains states improved the most, while conditions in the upper Midwest seem to have turned the corner.
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