Article

2020-05-01 Economy

Restaurant Recovery Begins As Money Spent On Dining Posts First Increase In Weeks

[Zero] Today's -4.8% GDP print was dire, but it would have been even worse had it not been for a spike in discretionary spending as Americans found themselves under house arrest for the second half of March. Given the importance of consumer spending on GDP, we looked at trends in the restaurant space amidst Covid-19 related headwinds, courtesy of Clover data compiled by Morgan Stanley. What we found is that for the first time in weeks there was a clear WoW

...that’s week over week, I believe...

improvement in dining spend, an indication that the worst is over for the restaurant industry.

Here are some observations from the dining trends chart below:

Posted by Besoeker 2020-05-01 01:00|| || Front Page|| [11133 views ] Top

#1 Pent. Up. Demand. If the rubber band snaps back hard enough, Trump in a walk come November.

Posted by M. Murcek 2020-05-01 03:19|| 2020-05-01 03:19|| Front Page Top

#2 Guess our table waiters Lex and Clem will be happy(er).

Posted by Skidmark 2020-05-01 11:19|| 2020-05-01 11:19|| Front Page Top

#3 ^Tempers grow sharper.

Posted by g(r)omgoru 2020-05-01 11:27|| 2020-05-01 11:27|| Front Page Top

#4 Right, so no one should be happy that economic activity is increasing and people are working and life is trying to return to normal. No, the statists wouldn't want that now, would they?

Posted by Clem 2020-05-01 11:40|| 2020-05-01 11:40|| Front Page Top

#5 No hooch for you Skid. Management's orders.

Posted by Lex 2020-05-01 11:49|| 2020-05-01 11:49|| Front Page Top

#6 ^Hey, today is the May 1 - international workers day. We should celebrate, not flame each other.😜

Posted by g(r)omgoru 2020-05-01 11:51|| 2020-05-01 11:51|| Front Page Top

#7 You're money's no good here, Dr. Skidmark

Posted by Lex 2020-05-01 12:11|| 2020-05-01 12:11|| Front Page Top

#8 Anyone who denies another person an honest living on any political pretense is an asshole and a criminal against humanity.

Posted by M. Murcek 2020-05-01 12:36|| 2020-05-01 12:36|| Front Page Top

#9 ^ Here come the lawsuits.

Seven small business owners v Newsom, the LA Mayor, several counties, CA Dept-Public Health
Class action on behalf of UC, CSU students

Posted by Lex 2020-05-01 13:23|| 2020-05-01 13:23|| Front Page Top

#10 /\ Yep, looks like Morgan & Morgan had saddled up.

Posted by Besoeker 2020-05-01 13:37|| 2020-05-01 13:37|| Front Page Top

#11 Class action on behalf of UC, CSU students

Posted by g(r)omgoru 2020-05-01 15:45|| 2020-05-01 15:45|| Front Page Top

#12 Ruh-roh: now a "tsunami" of litigation against colleges and universities for breach of contract as they pocket up to $75k a year full freight and force kids to put up with the joke that is classes offered online.

U.S. undergraduates have sued more than 50 schools, demanding partial tuition, room-and-board and fee refunds after they shut down....The proliferating breach-of-contract suits, many of them filed over the last week, target some of the biggest names in higher education, both public (e.g. U. California, Arizona State) and private (e.g. Columbia, Cornell, NYU) and dozens of other universities ... On Thursday alone, students filed complaints against Pennsylvania State University, Brown and the University of Pennsylvania...

Posted by Lex 2020-05-01 18:15|| 2020-05-01 18:15|| Front Page Top

#13 ^Where's my femto-violin.

Posted by g(r)omgoru 2020-05-01 19:32|| 2020-05-01 19:32|| Front Page Top

#14 Shut down cult's binky shrinks.

Posted by M. Murcek 2020-05-01 20:18|| 2020-05-01 20:18|| Front Page Top

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