FASTER, PLEASE: After Devastating Economic Contraction, Glimmers of Growth Emerge: Daily and weekly data suggest a recovery might be brewing, though its strength is unclear. “For example, map requests on Apple Inc. devices fell 50% throughout the country between mid-January and the week ended April 9, but they have steadily climbed since then and are now down just 20%. While driving doesn’t necessarily equate to spending, retail visits show the same trend, according to Unacast, a mobility-data analytics company: off more than 50% in mid-April from a year earlier, but down just 32% this past week. Real-estate brokerage Redfin Corp. said home-buyer demand as measured by customers contacting affiliated agents, after plummeting by one-third, is now above prepandemic levels. Some companies also report a turning point. On May 7, Uber Technologies Inc. said rides had risen for three straight weeks, and were up more than 40% from the trough in large cities in Georgia and Texas, which are starting to reopen businesses shut down by the coronavirus pandemic. Fast-food chain Wendy’s Co. reported that same-store sales in the week ended May 3 were down just 2% from a year earlier. They were down 26% in the week ended April 5.”

I still think we can have a v-shaped recovery, so long as we don’t listen to Nancy Pelosi.