(Investopedia)
New York City’s economic recovery continued its trend upward for the fourth consecutive week, reaching the highest point since the week of Jan. 2. The improvement could largely be attributed to a decline in year-over-year unemployment claims, though a slight bump in restaurant reservations and a decline in rental vacancies also contributed to the recovery.
The continuation of New York City’s recovery will largely depend on vaccination rates and how quickly the city’s businesses are allowed to fully reopen. New York City movie theaters opened at a limited capacity on March 5, prompting the New York DMA weekend box office to surge 380% week-over-week.
