Source: https://www.advan.us/
Georgia is one of the first US States to reopen businesses after the nationwide shutdowns began in mid-March. After the first week we analyze different parts of the state’s economy to understand what this reopening says about life post quarantine in the country.
By analyzing foot traffic data from leading geolocation provider Advan Research we are able to see near-realtime information on how various sectors of the Georgia economy fared both immediately after quarantine and in their first week post-reopening. According to Advan’s foot traffic indexes, the initial economic decline in Georgia was steep. Restaurants saw a peak decline of 55% year over year by mid-April. Department store traffic cratered at near zero traffic. Food retailer traffic bottomed at down 20%.
Looking at this same data post quarantine shows little to no recovery. Restaurant traffic remained at identical levels. Department store traffic remained at zero. Food retailers saw a minor snapback to a high teens decline.
Discussions with residents shed some light on the situation. Despite the stay at home order being relaxed, most businesses chose not to reopen as they worked through plans on how to do so in a safe manner. The early days of the Georgia reopen paint a picture of a global economy that is likely to remain at depressed levels into the future.
Notwithstanding these early signs, as the rapidly evolving Covid19 situation has taught us, everything can change extremely quickly and dramatically, in either direction, so continuously monitoring the situation is important.
To learn more about the data behind this article and what Advan has to offer, visit https://advanresearch.com/.
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