Key metrics to know the economy is recovering

We are all wondering, when will everything go back to normality – if it does. Gene Marks on an interesting article for The Guardian, says there are seven key metrics we should be watching to know when and how the economic recovery will take place. Even though the Covid-19 Crisis is far away from ending, and there are many speculations around this, it’s important to be aware and correctly informed to make the right movements. Small businesses, as our Cellphone Stores, should take a look at these key metrics in order to plan and move forward.

In the following article, we will share with you only three of these metrics, specifically the ones of interest for Cellphone store owners. 

Small Business Optimism Index

The National Federation of Independent Businesses publishes monthly 

its Small Business Optimism Index. Before the COVID crisis, the levels of the optimism index were historically high, during the crisis the levels fall drastically. But actually, as the NFIB publishes on its index the optimism has raised again back to a very high level.

“Optimism about future conditions improved and small-business owners indicate they expect the recession to be short-lived. We’re starting to see positive signs of increased consumer spending, but there is still much work to be done to get back to pre-crisis levels,” NFIB’s chief economist said.

Take a look at it in the following link:

Open Table

Even though it’s famous for its restaurant reservations app O.T. has a great database which analyzes day – by- day the state of the restaurant industry. As cities, states, begin to reopen their doors, this is a great resource to understand how the industry is beginning to rebound. It’s been updated daily and market comparisons are been summarized weekly. The database is very easy to read and understand, don’t doubt to take a look at it to have a wider perspective of the situation.

Take a look at it in the following link:

ISM manufacturing and service indexes

The Institute for Supply Management publishes every month a report on Business. Those indicators show the economic activity in the sector grew in June after two consecutive months of contraction. The growth cycle has returned after months of COVID-19 disruptions. Demand, consumption, and inputs are reaching parity and are positioned for a demand-driven expansion cycle as we enter the second half of the year. Among the six biggest industry sectors, Computer & Electronic Products have returned to respectable growth. 

“We are seeing an increase in orders as the economy starts to get rolling again. Slow and steady, sales are increasing. So far, so good.”

Take a look at it in the following link:

We hope that this article brings optimism and helps our entire community. Our intention is to provide you with true and clear information during these difficult times in order to accompany you in the COVID crisis.  We also leave at your disposal the sources used so that you can follow up on these resources and be able to anticipate making well-informed decisions. 

We wish you the best
Stay healthy and at home
We greet you until our next publication