Yelp economic average shows who won and who lost in the US’s economy, and what consumers want

While some businesses are feeling a bit of pressure, the US economy and most businesses in the country is doing fine, including junk removal Orange County and across the country, according to the Yelp Economic Average for the first quarter of 2019.

According to Yelp’s data for the first quarter of the year, the economy is in a good spot, with the Yelp Economic Average going up by .8 following a shaky 2018. That might just be a small amount, but it’s still an improvement from the 2.2 point drop that the average went through in 2018’s final quarter. Data for the average was taken from Yelp’s users, 34 million using the app, plus 75 million on the web.

The Yelp Economic Average also accounts for seasonal fluctuations, businesses closing and opening. Consumer demand also measures user engagement with different businesses, accounting for variables like page views, searches, check-ins, ratings and reviews.

As a benchmark, the final quarter of 2016 got a score of 100. For comparison, 2018’s third quarter got a score of 100.7 from Yelp, while the fourth quarter got assigned a score of 98.5. In contrast, 2019’s first quarter has a score of 99.3.

Overall

Yelp Data Science Editor Carl Bialik says that the latest numbers are good, noting that the first quarter of 2019 has signs of a comeback for businesses across the US He says that, on balance, it’s a good sign for the economy and businesses of all sizes in the country, with customers showing increased interest.

Winners

Two particular industries saw a good boost for the first quarter of 2019; salad shops, and junk removal and hauling. Bialik notes the improvement in the former is due to increasing demand for healthier, greener eating, while the latter is due to people like Marie Kondo, who extol the values of clearing out homes of unneeded things, have led to junk removal Orange County and across the country becoming more popular.

Losers

Grocery stores and the auto industry wasn’t as fortunate. Bialik explains that the former is due to increased competition, with most customers opting to just stay at home, with more options catering to that desire. For the latter, the auto industry have been struggling in the past years, and 2019’s first quarter saw that continuing.

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