The Delta variant turned the summer of independence from Covid-19 into a summer of hesitation, and the great economic boom that was expected seems to be locked in a perpetual state of 'coming soon.'
WASHINGTON — The Biden administration arrived in Washington in January with a wind at its back. After months of struggles with Covid-19, new vaccines seemed poised to tamp down the virus and unleash a period of economic growth.
Data from Gallup in June found that 89 percent of Americans believed the Covid situation was getting better. You read that correctly: 89 percent. You can barely get 89 percent of Americans to agree on what day it is, but they agreed in June that things were looking up. Those are dramatic swings in people's perceptions of Covid, and as views changed, the economy reacted. Consumer confidence fell,"back to work" dates were moved, and jobs numbers became difficult to interpret — bouncing from week to week.
The improvement in July compared to June takes into account tickets bought before the delta variant came to dominate the news. In the wake of the delta stories came the August dip — and there is more evidence of a travel slowdown in the weeks ahead. That's a lot of meals not prepared at restaurants and a lot of potential airplane seats and hotel rooms not filled — at least for now.
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