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Archive for April 22nd, 2020

Notes from the Trenches (19)

Wednesday, April 22nd, 2020

Article source: ConstructConnect

  • Beyond stock market prices, which can display a lot of ‘chatter’ (i.e., large up and down changes), there’s another important daily indicator of how the economy is doing, electricity usage. With retail stores, offices and factories closed during the coronavirus crisis, the decline in the commercial consumption of electricity has been greater than the increase in the amount of power used in residences. There’s been a big increase in the number of people set up with laptop and desktop computers to work from home.
  • Residential power consumption has shot way up on weekdays but has not increased much on weekends versus previous patterns. This is confirmation of what we’ve already intuitively grasped, that the distinction between weekdays and weekends has blurred. Everybody being tied together by smart phones started the ball rolling years ago.

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Notes from the Trenches (18)

Wednesday, April 22nd, 2020

Article source: ConstructConnect

  • Retail sales by some U.S. shopkeepers in March were prodigiously bad. The revenue rung up by clothing and accessory stores was only half February’s level. Versus the month prior, motor vehicle and parts dealers and furniture stores had their earnings slashed by one-quarter. Moving in the opposite direction, though, were grocery stores, where sales soared by more than a quarter. Rumors of shortages prompted panic buying.
  • The first wave of giant job losses in the U.S. (and Canada) occurred in the leisure and hospitality sector. Now it’s being reported that sales by U.S. ‘food services and drinking places’ (i.e., bars and restaurants), were -23% in March compared with February.

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