- While global economic activity is slowing sharply due to the coronavirus, the total extent remains unknown since official data is lagging.
- To gain early insights, the Financial Times compiled alternative, high-frequency data.
- For example, OpenTable restaurant reservation service data unsurprisingly shows that restaurant bookings across most developed nations have fallen by 90-100%.
- Alternative data also shows retail foot traffic declining by 70%.
- Even before the widespread shutdowns, movie box-office sales had declined by 60%.
- Global flight numbers reveal airline traffic falling 20% since March.
