(07 July 2021) According to Knoema's Alternative Data US Economic Activity Composite Index—which combines information from the six alternative data indicators displayed below along with the S&P 500 Index—the US recovery stalled in May 2021, not long after $1,400 stimulus checks had been delivered to eligible adults under the third round of federal stimulus aid. As of late June 2021, US economic activity remained about 5 percent lower than it had been in early March of 2021.

  • Credit card spending data and the number of passengers screens by TSA point to a complete recovery in consumer activity. However, the struggling small business sector suggests that the US economy still has a ways to go before reaching full recovery. According to data from Womply, the number of US small businesses open has been on the decline since June 2020; It is currently about 40% lower than the number of small businesses active before the pandemic.
  • Mobility data from Google also suggests recovery is underway but not yet complete, with US retail and recreation movement nearing pre-pandemic levels but movement to and from workplaces still lagging far behind.

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