Recovery Looks to Be Ebbing in States With Virus Outbreaks
The ebbing is evident following a big bounce in activity
The U.S. economic recovery is showing incipient signs of weakening in some states where coronavirus (COVID-19) cases are mounting.
The ebbing is evident in such high-frequency data as OpenTable restaurant reservations and follows a big bounce in activity as businesses reopened from lockdowns meant to check the spread of COVID-19.
“We’re now starting to see very early evidence that things are leveling off” in some of the states that reopened first and are now suffering rising virus cases, said Michelle Meyer, head of U.S. economics at Bank of America Corp.
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