US | Recovery Tracker soars on the pandemic’s anniversary
Our US Recovery Tracker rose 1.7ppts to 85.3 in the week ending March 12, a new high one year after the onset of the coronavirus crisis. Health conditions continued to improve despite a concerning plateau in the number of new infections in some large states. Encouragingly, roughly 2.5 million vaccine doses are being administered every day, and 32% of the adult population has received at least one dose, while 18% have completed vaccination.
According to our SRTs, regional recoveries lost some momentum but moved in a positive direction in the second week of March, with 33 states recording stronger readings. Health conditions improved after deteriorating mildly in the first week of March, more than offsetting weaker mobility, while activity and employment held steady.
Health conditions are still encouraging and with about one-third of the US population aged 18+ having now received at least one vaccine dose, herd immunity is slowly drawing close. It’s promising to see improving health conditions – the prerequisite for a normalization of economic conditions – though we caution that Covid variants and looser containment measures are still a risk to the recovery’s dynamics.