As the first quarter of 2021 drew to a close, a growing number of economic sectors in different parts of the country are reopening. As leaders execute and adjust business plans, they keep an eye on indicators that can inform them about activity across their industry sector and in their region. Field activity is a metric that illustrates economic health and activity for most markets. This report shares these trends, using business mileage levels to explore the pace of recovery across various industries.
• Average business mileage across the U.S. has increased to 70% of pre-pandemic levels. Regionally, the Western and Southern U.S. are trending at about 72% of pre-pandemic levels, business mileage in the Midwest has grown to 70% of pre-pandemic levels and Northeast mileage activity has grown to 64% of pre-pandemic levels.
• While activity levels vary from region to region, there is an even wider variety among industry sectors and their many subsectors. After seeing similar trajectories across most industries in March and April of 2020, different businesses are recovering at different speeds. Activity trends also differ depending on where and how companies operate.