5 Charts That Track Economic Recovery in the U.S.
After the whiplash of the early days of the pandemic, the dust is settling as the country moves toward recovery. CNBC gathered five charts that show where affected industries stand now as states begin to reopen, and the housing market is leading the way. Home purchases are up from last year, people are driving more, and reservations at hotels and restaurants are increasing as well. Though things may change if the pandemic has a second wave, the country is on track for recovery for now. Find out how restaurants, hotels, air travel, home sales, and mobility are faring.
As the U.S. economy makes further progress in recovering from the harsh blow of the coronavirus pandemic, certain industries are showing signs of recovery. Home purchases are up compared to last year, reservations are increasing at restaurants and hotel occupancy rates are on the rise. Even the battered air travel industry has seen some slight growth in passengers, indicating that the worst might be over for the U.S. economy.
These five charts illustrate this progress as the economy recovers from one of the most significant downturns in history.
Direction requests
Requests for transit directions have crept up further and are at almost half of their previous levels prior to the pandemic, according to the latest data from navigation app Apple Maps. This boost follows New York City entering into phase one of reopening this week, allowing many residents to return to work. This week also saw a dip in walking directions as people may be traveling further and relying more on driving and public transportation.