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A seamstress works at a sewing machine in a tailoring shop in Palm Springs, Calif. Photo: Robert Alexander/Getty Images.

U.S. macroeconomic data is broadly improving but many small businesses are facing a perilous recovery as they attempt to stay afloat after coronavirus-driven lockdowns throughout the country. That's true even for the many that received government assistance.

By the numbers: A recent poll of 7,317 small business owners by Alignable finds that 43% of firms that received money through the Paycheck Protection Program (PPP) say they could be out of cash in a month or less.

  • That's largely because they spent all of the money in the first eight weeks after receiving it so they could qualify to have the loans forgiven.

Details: 69% of small businesses that did not receive PPP funding say they expect to be out of cash reserves next month. 

  • 76% of minority-owned businesses that did not receive PPP funding say they will run out of cash in July — with 52% saying they have already depleted their reserves.

The big picture: With stores back open, Americans have increased spending from April and May's depressed levels, but that may not be enough.

  • An IBM Institute for Business Value survey poll of more than 18,000 U.S. consumers in May and early June found that 21% of consumers say they're shopping less and more than half believe the country will experience a major economic downturn over the next year or more.  
  • This could mean spending plateaus or even declines after this month rather than accelerating.

Between the lines: Some of the businesses left behind are expecting to lose significant revenue.

  • Total travel spending in the U.S. is predicted to drop 45% by the end of this year, according to a forecast prepared for the U.S. Travel Association by the company Tourism Economics.
  • That includes a decline in domestic travel spending of 40% (from $972 billion in 2019 to $583 billion in 2020) and a 75% fall in international inbound travel spending (from $155 billion to $39 billion).

One level deeper: A trade group representing health and fitness clubs says the industry lost $5.6 billion from mid-March through June 1, and will continue to lose $350 million per week through the end of the year.

  • "Even when open and for the foreseeable future, clubs will be hampered by reduced income from reduced capacity safety requirements and membership cancellations," the International Health, Racquet & Sportsclub Association said in a press release.
  • "Clubs that have opened are opening at 25%–50% capacity, while still having 100% of their expenses."

Go deeper: The pandemic's lost years

Go deeper

Oct 1, 2020 - Health

New poll shows alarming coronavirus vaccine skepticism

Illustration: Eniola Odetunde/Axios

 Lack of trust in a potential coronavirus vaccine is becoming a truly major problem, according to a new Stat/Harris Poll survey shared with Axios.

By the numbers: 79% of respondents said they would worry about a vaccine's safety if it's approved quickly, and 75% said they worry about politics — rather than science — driving the process.

Oct 1, 2020 - Health

Pfizer CEO: COVID-19 vaccine development is "moving at the speed of science"

Pfizer CEO Albert Bourl speaking in New York City in 2019. Photo: Steven Ferdman/Getty Images

Pfizer CEO Albert Bourla told employees in a letter Thursday that he is disappointed his company's coronavirus vaccine was politicized during this week’s presidential debate, adding that campaign rhetoric about the outbreak and vaccine development is “undercutting public confidence," according to AP and CNBC.

Why it matters: President Trump accused pharmaceutical companies of slowing their COVID-19 vaccine development to hurt him politically at Tuesday's debate, claiming the U.S. is "weeks away from a vaccine," per Stat News.

Health officials urge flu shots, warning of "twindemic" with COVID-19

Data: NFID survey, Aug. 17-19, 2020; Note: Margin of error for the total survey is ±4.4%; Chart: Axios Visuals

Americans need to prioritize getting their influenza vaccine now, public health officials warned Thursday.

Why it matters: The seasonal flu combined with the coronavirus pandemic could lead to a "twindemic" with increased chances of co-infections and an overwhelmed health system. Because symptoms are similar and diagnostics aren't fast, people can best mitigate their risks with the flu shot plus social distancing and mask-wearing this fall and winter.