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Significant improvement

Dr. Thomas Gitzel, Chief Economist
Reading time: 2 Min
US economy picks up speed again.
VP Bank Corona Crisis Barometer

Last update: 2 June 2020

The VP Bank Corona Crisis Barometer improves noticeably in a weekly comparison. US economy picks up speed again. Now the demand for electricity is the main factor responding. This bears witness to the fact that the companies are resuming production and providing their services.

However, this is not the same as the fact that would return to pre-crisis levels. Electricity demand in the greater New York area is still 38% below compared to the beginning of March. Public life, measured in terms of restaurant visits, on the other hand, is only slowly entering Drive. 


In short: Even if the USA has freed itself a good deal from the lockdown at the end of May, there is still a longer distance to the normal state.

 

On the barometer: The measures taken to control the spread of the coronavirus have been drastic. The global economy is severely impaired, resulting in an unprecedented drop in gross
domestic product (GDP). The question is now, how fast the economy will rebound if the restrictions are lifted.

The VP Bank Corona Crisis Barometer tracks how well the economy is recovering.

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