High-Frequency Indicators Tracking Covid-19 Impacts on Arizona's Economy
March 17, 2020
Get an early read on the economic impacts of reduced household wealth and social distancing.
Revised March 19, 2020 - Added new indicators: coronavirus new cases reported daily for Arizona and AZ counties and cumulative number of cases reported daily for the U.S.
The U.S. and Arizona economies are experiencing a huge shift in business and consumer behavior due to the spread of COVID-19. As the impacts of reduced household wealth and social distancing work through the economy, it will be important to track the economic performance of the travel and tourism sector and the overall economy. EBRC has a wealth of data to help you do that!
To get an early read on how the impacts of social distancing are impacting travel and tourism, this page presents weekly indicators of U.S. gross sales of movie tickets, the number of U.S. movie releases, U.S. hotel occupancy rates, and the overall number of initial claims for unemployment insurance for the U.S. and Arizona.
These are indicators, among many others, tracked by CalculatedRiskBlog.com. I recommend you regularly check out his analysis.
Here’s what I (and many others) expect to see in these indicators. Due to social distancing and the closure of theaters in many parts of the U.S., we will see major declines in movie ticket sales and movie releases. Hotel occupancy rates will also fall dramatically. As travel-and-tourism-related businesses lay off workers we will see initial claims for unemployment insurance spike up.
At first, the news here is mostly going to be bad, but keep coming back. The economy will begin to improve as we move through the year, and that improvement will be reflected in these data.
The charts and tables below are interactive with your cursor tooltip and you can use the icons to download, embed, and share the data.
Update March 23, 2020 - We have added coronavirus cases (cumulative) reported daily for U.S., Arizona and Arizona counties which are reporting.
Use your cursor as a tooltip and click on charts to view values. Click on the names of indicators listed at the bottom any chart to switch them on/off to view fewer at one time and make comparisons. Icons allow you to download and share.