COVID-19: Measuring economic recovery using alt data
Following increased client interest, we highlight relevant datasets that can be used to measure the economic recovery of global markets. The Intelligence report places a focus on tracking the recovery of the US, EU, China, as well as countries that have yet to plateau in COVID-19 cases, such as India and Mexico.
SMALL BUSINESS ACTIVITY
Small to medium-sized enterprises (SMEs) are some of the most important stakeholders in the global economy, accounting for 99.7% of registered businesses in the EU, over two-thirds of private sector job growth in the US, and 60% of China’s total GDP. As such, aggregated SME activity can serve as a useful indicator in measuring the impact and recovery of economies in the wake of COVID-19.
One approach investors can take to measure SME activity is monitoring the rate of business reopening and closures.