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Home News US economic recovery after the coronavirus pandemic and recession

US economic recovery after the coronavirus pandemic and recession

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US economic recovery after the coronavirus pandemic and recession – CNN Business

From your job to your home and your groceries, you know Covid-19 has disrupted every aspect of your life. This dashboard shows how things have changed, and will track the recovery in detail.

Today’s news:

  • How long until the US economy is back to normal? The new Back-to-Normal Index launched today by CNN Business and Moody’s Analytics shows we still have a long way to go. Explore the index below.

  • Separately, members of the National Association of Business Economists expect economic activity won’t return to its pre-pandemic level until 2022.

The Back-to-Normal Index

The pandemic economy is far from normal. So Moody’s Analytics and CNN Business have partnered to create a proprietary Back-to-Normal Index, comprised of 37 national and seven state-level indicators. The index ranges from zero, representing no economic activity, to 100%, representing the economy returning to its pre-pandemic level in March.

The economy in the United States  is operating at 78% of where
it was in early March.

New coronavirus
cases in the last 7 days

320,800

11% lower than the prior week

Number of states that improved last week46

Learn how we created the Back-to-Normal Index


Essential workers in hospitals and grocery stores were hailed as everyday heroes, office workers shifted to working from home, and millions of other Americans filed for unemployment. It’s safe to say — your job might never be the same after the pandemic.

It definitely got harder to sell your home during the pandemic. No open houses. Virtual closings. And many owners hesitated to put their homes on the market. Thanks to the Fed’s stimulus efforts, though, you may be able to refinance or take out a mortgage at record low rates.

Resist the temptation to check your 401(k) every day. Although stocks have made a comeback faster than other parts of the US economy, Wall Street insiders are bracing for volatility ahead of the November election.

Your income and savings might have changed dramatically since March. During the pandemic, Americans have tightened their spending and chosen to save more, as they grapple with a historically weak job market.

When’s the last time you dined in a restaurant or went to the movies? If it’s been months, you’re not alone. The pandemic brought these leisure activities to a halt.

Early in the pandemic, you may have marveled at low gas prices in your area, but that was in large part because many Americans no longer commute to work. They’ve stopped flying, too.

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http://rss.cnn.com/~r/rss/cnn_topstories/~3/l_zJp-Xd0RI/us-economic-recovery-coronavirus

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