The coronavirus pandemic ground the U.S. economy to a near halt in March and April. But in the last couple of weeks, many company executives and investors across industries say they are seeing small signs business is picking up again. At the very least, there is evidence the sharp downturn has hit bottom.
Uber CEO Dara Khosrowshahi said more people have requested rides in recent weeks. Car sales have started to rebound, according to data from J.D. Power. And some retailers, including Costco and CVS Health, said foot traffic is increasing at stores.
But the toll of the pandemic is large, and it will make recovery complex. As the economy reopens in some states, people are slowly returning to stores, restaurants and other businesses — but that comes with risk of another outbreak.
More than 80,000 Americans have died after contracting Covid-19, according to data compiled by NBC News. In some parts of the country, coronavirus cases and hospitalizations are still climbing. With no vaccine or treatment, people may still be reluctant to go to public places.
In many industries business Sentiment is improving @CNBC https://t.co/O9zDbcyTpc
— Bart van de Ven (@BartAccuro) May 11, 2020