Government statistics continue to show week over week improvements, but the 4-week moving average is still down over 20% compared to 2019.
There is more good news on the state of economic activity as for the third straight week and eight of the last nine weeks, data from the U.S. Energy Information Administration (EIA) showed gasoline consumption up versus the previous week. For the week ending June 5, gasoline consumption was up 4.6% compared to the previous week. The rate of increase was above the 4.1% increase for the Memorial Day week ending May 29, but below the 6.8% increase
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