US | Recovery Tracker looking good ahead of summer liftoff
The US Recovery Tracker rose 0.4ppts to 92.1 in the week ended May 14, pointing to solid momentum ahead of the summer liftoff. Four of the tracker’s six components increased, led by rapidly improving health conditions.
What you will learn:
- Ongoing vaccination progress lifted the health tracker to its highest since October, giving consumers the confidence to commute more and travel as gasoline demand climbed to a 14-month high.
- The labor market continued healing, with small-business employment on the rise, fewer layoffs, and increased job postings. Demand rose at a steady clip, driven by increased credit card spending, more restaurant outings, more hotel nights, and greater outlays on recreation, despite cooler housing activity.
- Our State Recovery Trackers signal a mild improvement in mid-May, with 34 states recording higher readings. All regional recoveries gained ground, with the East and Midwest leading the charge.
Tags:
Related Services
Post
Food prices to bottom out in 2024, risks skewed to upside
Our baseline forecast is for world food commodity prices to register an annual decline this year, in aggregate, reducing pressure on food retail prices further downstream. However, we believe the risks to this forecast are overwhelmingly skewed to the upside.
Find Out More
Post
Battery raw material prices to recover
Battery raw materials prices bottomed out last quarter and we think a sustained recovery is looming. Midstream EV battery manufacturing activity has picked up again and inventories have returned to historical levels, suggesting upstream demand for raw materials will also bounce back.
Find Out More