Bill Diviney, a Senior Economist at ABN Amro, is now tracking air passenger throughput at airports, coal production, and railroad freight transport among others in the US.
Key quotes
“All show markedly lower rates of activity than in the same periods of previous years, with the most striking change visible so far coming in air travel. Passenger numbers were already half that of the equivalent 2019 levels, having steadily declined from 100% of 2019 levels at the beginning of March.”
“Coal production is around 80% of 2019 levels, and railroad freight is around 90% of 2019 levels.”
“Over the coming days and weeks, we are likely to see further significant declines in these types of activities, as the effects of lockdowns and dramatically reduced consumption and production ripple through the economy.”
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