On July 1st, traffic across all industries was at 51.9% of normal. By August 1st, 46.5% of normal. And on September 1st, 43.5% of normal. Early September saw a slight upward trend reaching 49%, but has now dropped to 43% as of September 27th.
Big box stores were the exception, Target and Walmart.
California municipalities will not see their expected sales tax bonus, and will see sales taxes down by 30% or so. We are right back where we were in 1971, and 1932, and we will be doing the 2021 which the children can remember as their 'This time is different' moment. We will need a new generation of macro economists with a new theory.
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