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The US economy is closer than ever to ‘back to normal.’ But we’ve still got a long way to go

by capitalizefinancial
May 25, 2021
in Economy
0
The US economy is closer than ever to ‘back to normal.’ But we’ve still got a long way to go

More than a year after the pandemic began, the US economy is on the cusp of a full recovery. But reaching that milestone still won’t be easy.

CNN Business’ Back-to-Normal Index, developed in partnership with Moody’s Analytics last year, shows the US economy is 90% of the way back to where it was before the pandemic began over a year ago.

The index, which is comprised of 37 national and seven state-level indicators, had bottomed out at around 57% in April 2020.

But despite the immense improvement, getting that last 10% back is going to be hard. The vaccination effort is ongoing and consumers are once again spending money on dining and travel — yet the nation remains millions of jobs short of pre-pandemic levels. Meanwhile many workers continue to feel hesitant about returning to in-person work, and the childcare riddle is still unsolved in many areas where schools and day cares aren’t yet operating at full capacity.

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