Retail

This chart shows link between restaurant spending and new virus cases

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Higher restaurant spending appears to be linked to a faster spread of the coronavirus, according to a JPMorgan study.

Analyst Jesse Edgerton analyzed data from 30 million Chase credit and debit cardholders and from Johns Hopkins University’s case tracker. He found that increased restaurant spending in a state predicted a rise in new infections there three weeks later.

He also said restaurant spending was the strongest predictor across all categories of card spending.

The United States set a record for the single highest day of new infections on Wednesday. States in the South and West, including California, Texas and Florida, are seeing a surge of new cases and hospitalizations related to…



Source cnbc.com

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