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Economy
Restaurant Recovery Begins As Money Spent On Dining Posts First Increase In Weeks
2020-05-01
[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

#14  Shut down cult's binky shrinks.
Posted by: M. Murcek   2020-05-01 20:18  

#13  ^Where's my femto-violin.
Posted by: g(r)omgoru   2020-05-01 19:32  

#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  

#11  Class action on behalf of UC, CSU students

Posted by: g(r)omgoru   2020-05-01 15:45  

#10  /\ Yep, looks like Morgan & Morgan had saddled up.
Posted by: Besoeker   2020-05-01 13:37  

#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  

#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  

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


Posted by: Lex   2020-05-01 12:11  

#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  

#5  No hooch for you Skid. Management's orders.
Posted by: Lex   2020-05-01 11:49  

#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  

#3  ^Tempers grow sharper.
Posted by: g(r)omgoru   2020-05-01 11:27  

#2  Guess our table waiters Lex and Clem will be happy(er).
Posted by: Skidmark   2020-05-01 11:19  

#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  

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