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

Updated 3 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 9:30 p.m. ET: 32,746,147 — Total deaths: 991,678 — Total recoveries: 22,588,064Map.
  2. U.S.: Total confirmed cases as of 9:30 p.m. ET: 7,007,450 — Total deaths: 204,486 — Total recoveries: 2,750,459 — Total tests: 100,492,536Map.
  3. States: New York daily cases top 1,000 for first time since June — U.S. reports over 55,000 new coronavirus cases.
  4. Health: The long-term pain of the mental health pandemicFewer than 10% of Americans have coronavirus antibodies.
  5. Business: Millions start new businesses in time of coronavirus.
  6. Education: Summer college enrollment offers a glimpse of COVID-19's effect.

Graham hopes his panel will approve Amy Coney Barrett by late October

Chair Lindsey Graham during a Senate Judiciary Committee business meeting on Capitol Hill Thursday. Photo: Jabin Botsford/The Washington Post via Getty Images

Senate Judiciary Committee Chair Lindsey Graham (R-S.C.) told Fox News Saturday he expects confirmation hearings on Judge Amy Coney Barrett's nomination to the Supreme Court to start Oct. 12 and for his panel to approve her by Oct. 26.

Why it matters: That would mean the final confirmation vote could take place on the Senate floor before the Nov. 3 presidential election.

Texas city declares disaster after brain-eating amoeba found in water supply

Characteristics associated with a case of amebic meningoencephalitis due to Naegleria fowleri parasites. Photo: Smith Collection/Gado/Getty Images

Texas authorities have issued a warning amid concerns that the water supply in the southeast of the state may contain the brain-eating amoeba naegleria fowleri following the death of a 6-year-old boy.

Details: The Texas Commission on Environmental Quality issued a "do not use" water alert Friday for eight cities, along with the Clemens and Wayne Scott Texas Department of Criminal Justice corrections centers and the Dow Chemical plant in Freeport. This was later lifted for all places but one, Lake Jackson, which issued a disaster declaration Saturday.