RSS Feed by Calculated Risk on 5/24/2021 08:49:00 AM
Monday, May 24, 2021
Seven High Frequency Indicators for the Economy
These indicators are mostly for travel and entertainment. It will interesting to watch these sectors recover as the vaccine is distributed.
IMPORTANT: Be safe now - if all goes well, everyone could be vaccinated by June.
----- Airlines: Transportation Security Administration -----
The TSA is providing daily travel numbers.
Click on graph for larger image.
This data shows the seven day average of daily total traveler throughput from the TSA for 2019 (Light Blue), 2020 (Blue) and 2021 (Red).
The dashed line is the percent of 2019 for the seven day average.
This data is as of May 23rd.
The seven day average is down 32.0% from the same day in 2019 (68.0% of 2019). (Dashed line)
There was a slow increase from the bottom - and TSA data has picked up in 2021.
----- Restaurants: OpenTable -----
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.
----- Hotel Occupancy: STR -----
This graph shows the seasonal pattern for the hotel occupancy rate using the four week average.
The red line is for 2021, black is 2020, blue is the median, and dashed light blue is for 2009 (the worst year since the Great Depression for hotels - before 2020).
Occupancy is now slightly above the horrible 2009 levels.
This data is through May 15th. Hotel occupancy is currently down 16% compared to same week in 2019). Note: Occupancy was up year-over-year, since occupancy declined sharply at the onset of the pandemic. However, occupancy is still down significantly from normal levels.
Notes: Y-axis doesn't start at zero to better show the seasonal change.
----- Gasoline Supplied: Energy Information Administration -----
This graph, based on weekly data from the U.S. Energy Information Administration (EIA), shows gasoline supplied compared to the same week of 2019.
Blue is for 2020. Red is for 2021.
As of May 14th, gasoline supplied was off about 2.2% (about 97.8% of the same week in 2019).
Gasoline supplied was up year-over-year, since at one point, gasoline supplied was off almost 50% YoY in 2020.
----- Transit: Apple Mobility -----
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.
There is also some great data on mobility from the Dallas Fed Mobility and Engagement Index. However the index is set "relative to its weekday-specific average over January–February", and is not seasonally adjusted, so we can't tell if an increase in mobility is due to recovery or just the normal increase in the Spring and Summer.
This data is through May 22nd for the United States and several selected cities.
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 78% of the January 2020 level and moving up.
----- New York City Subway Usage -----
Here is some interesting data on New York subway usage (HT BR).
This graph is from Todd W Schneider. This is weekly data since 2015.
The TSA is providing daily travel numbers.
Click on graph for larger image.This data shows the seven day average of daily total traveler throughput from the TSA for 2019 (Light Blue), 2020 (Blue) and 2021 (Red).
The dashed line is the percent of 2019 for the seven day average.
This data is as of May 23rd.
The seven day average is down 32.0% from the same day in 2019 (68.0% of 2019). (Dashed line)
There was a slow increase from the bottom - and TSA data has picked up in 2021.
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.
IMPORTANT: OpenTable notes: "we’ve updated the data including downloadable dataset from January 1, 2021 onward to compare seated diners from 2021 to 2019, as opposed to year over year." Thanks!
Thanks to OpenTable for providing this restaurant data:
This data is updated through May 22, 2021.
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."
Note that this data is for "only the restaurants that have chosen to reopen in a given market". Since some restaurants have not reopened, the actual year-over-year decline is worse than shown.
Dining picked up during the holidays, then slumped with the huge winter surge in cases. Dining was picking up again. Florida and Texas are above 2019 levels.
----- Movie Tickets: Box Office Mojo -----
This data shows domestic box office for each week and the median for the years 2016 through 2019 (dashed light blue).
Thanks to OpenTable for providing this restaurant data:This data is updated through May 22, 2021.
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."
Note that this data is for "only the restaurants that have chosen to reopen in a given market". Since some restaurants have not reopened, the actual year-over-year decline is worse than shown.
Dining picked up during the holidays, then slumped with the huge winter surge in cases. Dining was picking up again. Florida and Texas are above 2019 levels.
This data shows domestic box office for each week and the median for the years 2016 through 2019 (dashed light blue). Blue is 2020 and Red is 2021.
The data is from BoxOfficeMojo through May 20th.
Note that the data is usually noisy week-to-week and depends on when blockbusters are released.
Movie ticket sales were at $32 million last week, down about 83% from the median for the week.
Note that the data is usually noisy week-to-week and depends on when blockbusters are released.
Movie ticket sales were at $32 million last week, down about 83% from the median for the week.
This graph shows the seasonal pattern for the hotel occupancy rate using the four week average. The red line is for 2021, black is 2020, blue is the median, and dashed light blue is for 2009 (the worst year since the Great Depression for hotels - before 2020).
Occupancy is now slightly above the horrible 2009 levels.
This data is through May 15th. Hotel occupancy is currently down 16% compared to same week in 2019). Note: Occupancy was up year-over-year, since occupancy declined sharply at the onset of the pandemic. However, occupancy is still down significantly from normal levels.
Notes: Y-axis doesn't start at zero to better show the seasonal change.
This graph, based on weekly data from the U.S. Energy Information Administration (EIA), shows gasoline supplied compared to the same week of 2019.Blue is for 2020. Red is for 2021.
As of May 14th, gasoline supplied was off about 2.2% (about 97.8% of the same week in 2019).
Gasoline supplied was up year-over-year, since at one point, gasoline supplied was off almost 50% YoY in 2020.
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.
There is also some great data on mobility from the Dallas Fed Mobility and Engagement Index. However the index is set "relative to its weekday-specific average over January–February", and is not seasonally adjusted, so we can't tell if an increase in mobility is due to recovery or just the normal increase in the Spring and Summer.
This data is through May 22nd for the United States and several selected cities.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 78% of the January 2020 level and moving up.
Here is some interesting data on New York subway usage (HT BR).
This graph is from Todd W Schneider. This is weekly data since 2015. Most weeks are between 30 and 35 million entries, and currently there more than 11 million subway turnstile entries per week - and increasing.
This data is through Friday, May 21st.
Schneider has graphs for each borough, and links to all the data sources.
He notes: "Data updates weekly from the MTA’s public turnstile data, usually on Saturday mornings".
This data is through Friday, May 21st.
Schneider has graphs for each borough, and links to all the data sources.
He notes: "Data updates weekly from the MTA’s public turnstile data, usually on Saturday mornings".
