Due to the fact that the states continue to remove restrictions on the use of coronavirus, people in the United States feel more comfortable traveling, transporting, eating outside the house and even moving to a new house.
Improvements in tourism and restaurant business, as well as in the housing market, may indicate that a broader economic recovery is expected on the horizon, although the pandemic is still ongoing.
These five charts illustrate trends in key economic indicators that help track the resumption of progress in the United States.
According to the latest navigation app, travelers are increasingly relying on Apple Maps to get help with public transportation. The transit destinations from the application are almost half that in January, as more and more people are returning to work in urban centers such as New York and San Francisco. However, requests for walking and driving directions have fallen lower than at the beginning of June.
According to OpenTable’s online reservation service, restaurant reservations have declined by more than 60% compared to last year. Orders declined 100% in March and throughout April, as restaurants across the country could only offer delivery and delivery instead of on-site lunch. However, the number of bookings began to increase in May, as the states eased restrictions and allowed visitors to eat out again.
According to the global hospitality research company STR, hotels are filling even more and occupancy rates are around 42%. As more children do not go to school and the summer weather continues, families across the country can look forward to travel. Norfolk / Virginia Beach, Virginia, was the only major tourist market where hotel occupancy rates exceeded 50%, but was followed by Phoenix, New York and Tampa, Florida, according to STR.
According to the Transport Safety Administration, the number of daily passengers passing through checkpoints at airports has decreased by about 80% compared to last year. The number of passengers is growing steadily, as in March they fell sharply in the early stages of the coronavirus pandemic. The airline industry is now waiting to see if the number of passengers increases in the busy summer season.
Mortgage applications for single-family homes are currently up 21% from last year, as mortgage rates have fallen to record lows, according to the Mortgage Bankers Association. “Purchase requests have grown to their highest level in 11 years and for the ninth consecutive week,” said Joel Kahn, vice president of economic and industry forecasting at the MBA. “The housing market is still experiencing the release of unrealized pent-up demand since the beginning of this spring, as well as a gradual increase in consumer confidence.”