Six High Frequency Indicators for the Economy
by Calculated Risk on 3/07/2022 08:57:00 AM
These indicators are mostly for travel and entertainment. It is interesting to watch these sectors recover as the pandemic subsides.
The TSA is providing daily travel numbers.
This data is as of March7th.
This data shows the 7-day average of daily total traveler throughput from the TSA for 2019 (Light Blue), 2020 (Black), 2021 (Blue) and 2022 (Red).
The dashed line is the percent of 2019 for the seven-day average.
The 7-day average is down 15.2% from the same day in 2019 (84.8% of 2019). (Dashed line)
The second graph shows the 7-day average of the year-over-year change in diners as tabulated by OpenTable for the US and several selected cities.
This data is updated through March 5, 2022.
This data is “a sample of restaurants on the OpenTable network across all channels: online reservations, phone reservations, and walk-ins. For year-over-year comparisons by day, we compare to the same day of the week from the same week in the previous year.”
Dining was mostly moving sideways but declined during the winter wave of COVID and is now increasing. The 7-day average for the US is down 5% compared to 2019.
Note that the data is usually noisy week-to-week and depends on when blockbusters are released.
Movie ticket sales were at $80 million last week, down about 55% from the median for the week.
The red line is for 2022, black is 2020, blue is the median, and dashed light blue is for 2021.
This data is through February 26th. The occupancy rate was down 4.7% compared to the same week in 2019.
Notes: Y-axis doesn’t start at zero to better show the seasonal change.
This graph is from Apple mobility. From Apple: “This data is generated by counting the number of requests made to Apple Maps for directions in select countries/regions, sub-regions, and cities.” This is just a general guide – people that regularly commute probably don’t ask for directions.
The graph is the running 7-day average to remove the impact of weekends.
IMPORTANT: All data is relative to January 13, 2020. This data is NOT Seasonally Adjusted. People walk and drive more when the weather is nice, so I’m just using the transit data.
According to the Apple data directions requests, public transit in the 7-day average for the US is at 113% of the January 2020 level.
Here is some interesting data on New York subway usage (HT BR).
This graph is from Todd W Schneider.
This data is through Friday, March 4th.
He notes: “Data updates weekly from the MTA’s public turnstile data, usually on Saturday mornings”.