• US Recovery Marches Slowly Toward Pre-Pandemic Levels

    US Recovery Marches Slowly Toward Pre-Pandemic Levels

    Thirty-Nine States Show Improvement

    Oxford Economics, an economic forecasting and analysis firm, compiles a number of high-frequency indicators to provide a weekly update on how far the economy is from recovering to pre-pandemic levels.

    The indicators include credit card spending, restaurant bookings, job postings, new COVID-19 cases and gasoline demand, among others. These are indexed to their Jan. 31, 2020, levels and then aggregated. The map below depicts regional recoveries, with 39 states recording higher readings. Health and employment improved, activity held steady while mobility dipped.

    This is a long way from May of last year, when the map was fairly light white, under widespread closures and shutdowns. By the end of March, the overall index is at about 87%, held down in large part by mobility and health indicators, as one might expect. Once vaccinations become more widespread and more restrictions are lifted, we should see more blue on the map.

    • April 08, 2021
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