IPFS News Link • Business/ Commerce
Restaurant Traffic Implodes: New York, Seattle Plummet More Than 60%
• https://www.zerohedge.com by Tyler DurdenOne week ago, when predicting that a coronavirus recession could send the S&P500 to 2,450 by year end - a level that was almost breached last Thursday - Goldman showed that the the most important leisure sectors such as airlines, casino, hotels and cruises, had been clobbered in the market as fears of coronavirus put Americans in self-imposed, or otherwise, quarantine would lead to a hard stop for service providers.
One industry was missing from the chart above: restaurants, and for good reason - for all the panic about a viral pandemic, it appeared that nothing could stand between Americans and their favorite pastime: eating out.