US | Recovery Tracker started August on the right foot

Our US Recovery Tracker rose 1.3ppts to 78.0 in the week ended August 7, the largest gain since mid-June. Supporting the weekly rise were the first increase in the health tracker since early June and advances in five of the six tracker subcomponents, led by employment and mobility.

What you will learn:

  • The improvement in the health index, if sustained, will bolster the other dimensions in coming weeks. 
  • The minutes provided no further clues about when the Fed might adopt more explicit forward guidance. 
  • The demand tracker fell back despite stronger spending on retail and recreation, restaurants, and bars, and solid housing activity. 
  • Local recoveries improved in the first full week of August, with the Recovery Trackers of more than 50% of states rising.
  • While the health situation is gradually improving, it’s far from ideal heading into the fall flu season.

Topics: United States, Economic outlook, Coronavirus, Macro, Recovery Tracker, US economy, Macro Highlights, Heavy Industry, Market Highlights, North America

Recovery Tracker starts August on the right foot - iPad