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“V-Shaped” Recovery? – NYC’s Live Camera Feed & Real-Time Traffic Data Suggest Otherwise

Courtesy of ZeroHedge View original post here.

New York City's Phase 4 reopening should be a turning point for the area, hit hard by the coronavirus pandemic. However, it's not… 

On Wednesday morning (around 8:00 ET), EarthCam's live feeds of the Charging Bull statue in the Financial District of Manhattan to Times Square to Broadway reveal a continued ghost town. Similar to what we showed last week

Charging Bull 

Times Square 

Times Square (street cam) 

Times Square (another view) 

Times Square (south view) 

Broadway 

Traffic data from New York City (provided by TomTom Traffic Index) show despite lockdowns easing in early June, congestion in the city is not returning to pre-virus levels. 

Apple mobility data shows walking and transit remain significantly below pre-virus levels. Driving, on the other hand, reverted to baseline in June, but data is questionable considering Tom Tom's traffic data, and Earthcam feeds, suggesting otherwise. 

The "V-shaped" recovery pitched by the White House, the same folks who are desperately in need of another round of stimulus to avoid a fiscal cliff that would undoubtedly crash consumption, is touting the greatest ever economic revival. However, it's non-existent in New York City, America's largest metro area in terms of GDP contribution, in July. 


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