Driving, not flying

Chart o’ the Day comes from Bank of America Merrill Lynch’s economics team. They track mobility surveys from the Dallas Fed and Google to determine the speed and strength of the economy’s reopening.

There’s an interesting thing happen between the rate at which flying returns versus driving. It’s intuitive that people taking trips this summer would prefer to do so by car, with gasoline being cheaper and proximity to strangers being shunned. I think it could be years before we’re flying at the rates we used to.

Here’s what it looks like today:

Source:

The economics of reopening: real time tracking #6
Bank of America Merrill Lynch – June 17th, 2020