JPMorgan Sees Restaurant Spending as Predictor of Virus’s Spread
A worker grills meat and vegetables as customers wait in line to order take-out at a restaurant in New York on June 20.
Photographer: Christopher Occhicone/BloombergThis article is for subscribers only.
Americans trying to predict where the next wave of virus outbreaks will hit may want to look at where local shoppers get their food.
That’s according to JPMorgan Chase & Co., which found the level of in-person spending in restaurants three weeks ago was the strongest predictor of where new cases would emerge. Similarly, higher spending in supermarkets indicated a slower spread, suggesting shoppers in those regions may be living more cautiously.