Americans say they will search for sales, clip coupons, and buy fewer foreign-made items as they seek to absorb higher prices driven by President Trump’s tariff policies, per February 2025 data from Numerator. 

As of 2/13/25 

Inflation 

Eggs, beef, and fish are still among the grocery items with the biggest price increases over a year ago: 

The price of natural gas has increased more than twice as much as electricity: 

Biggest food price increases since 2021: 

As of January 2025 

Graph source: Statista 

Uncertainty 

The Economic Policy Uncertainty Index has surged to the highest point since 2020: 

As of February 2025 

Travel Drop 

International travel to the U.S. is now expected to dip by 5 percent this year, contributing to a $64 billion decrease for the travel industry, according to an analysis of February data by research firm Tourism Economics. The firm’s initial forecast for 2025 was a 9 percent increase. Decreases in travelers in February compared to a year ago: 

• Central America — down 6 percent 

• Asia — down 7 percent 

• Africa— down 9 percent

• China — down 11 percent  

• Canada — driving visits down 23 percent and air travel down 13 percent 

Government and business travel, along with personal travel, also decreased. Delta, Southwest, and American all revised down their Q1 forecasts, and the hospitality and leisure industry has posted two months of job losses. 

Adam Sacks, president of Tourism Economics, said the “dramatic” shifts in outlook are “not just because of tariffs, but the rhetoric and condescending tone around it,” referring to remarks by President Trump including saying he wants to make Canada a “51st state.” In response, Canada’s former prime minister, Justin Trudeau, urged Canadians not to vacation in the U.S. 

Air Share 

Delta Air Lines lead the U.S. airline market with a 17.8 percent share and revenues of more $60 billion in the 12-month period ending November 2024, according to data comes from the Bureau of Transportation Statistics. Visual Capitalist infographic: 

Graph source: Visual Capitalist 

As of November 2024 

Other takeaways: 

• The big four airlines—Delta, American, Southwest, and United—account for nearly 70 percent of all revenue passenger miles. 

• Of the 58 airlines in the U.S., the top 10 largest carriers comprise more than 90 percent of the market. 

• Southwest is the largest low-cost carrier, followed by Spirit, JetBlue, and Frontier. 

Inbound 

Voronoi created a nice graph showing each U.S. state’s combined share of imports from Canada and Mexico in 2023, based on data from the U.S. International Trade Administration. States colored in dark blue (which includes Nevada) have relatively low dependence: 

Graphic source: Voronoi as of 2024 

Montana’s dependence on crude oil from Canada for its oil refinery operations give it the highest import dependence at 93 percent. 

Maine, Vermont, and North Dakota are also highly dependent (71 percent) along with Michigan (69 percent) 

Las Vegas Apartment Seekers 

In the Las Vegas metropolitan area in 2024, 34 percent of Apartment List users were searching for apartments in a different city — the most popular destinations are Phoenix, Tucson, and Los Angeles — and 27 percent of users were looking for apartments in Las Vegas were searching from out-of-town, with Los Angeles, Phoenix, and Riverside topping the list: 

The interactive map in the full Renter Migration report shows migration channels for more than 100 cities. Here’s a snapshot of searches for apartments in Las Vegas: 

As of 2024

Nationwide in 2024, 39 percent of Apartment List users searched for their next rental in a new metro area in their state of resident, while 25 percent considered a new state entirely. 

The data highlights strong migration channels out of expensive states (particularly along the coasts) to more-affordable ones (particularly in the southeast and Mountain West), a trend that emerged early in the COVID-19 pandemic and has remained steady to this day. 

Retirement Planning 

This Visual Capitalist graphic illustrates how long $1 million along with average Social Security benefits lasts in every state, according to data from GOBankingRates.  

As of January 2025 

Takeaways 

• In three states—Massachusetts (19 years), California (16 years), and Hawaii (12 years)—$1 million would be completely spent in less than 20 years. 

• By contrast, the same amount could last over 70 years in five states: Oklahoma (71 years), Louisiana (76 years), Arkansas (76 years), Mississippi (87 years), and West Virginia (88 years). In these states, a person would need less than $1,200 per month (after Social Security) to cover expenses. 

• In 36 states, $1 million, combined with Social Security, would be enough to fund at least 30 years of retirement. 

Note: The methodology included in-state prices of groceries, healthcare, housing, utilities, transportation, and common miscellaneous expenses from the Bureau of Labor Statistics Consumer Expenditure Survey.  

Water 

Although a majority of the Earth’s surface is covered in water, 96.5 percent of it is ocean water unsuitable for consumption or agriculture.  

It’s estimated that just 2.5 percent of the planet’s water is freshwater, most of which is found in glaciers, ice caps, and underground. Map: 

As of January 2025 

Down with DST 

As of 2025

On the Horizon

Mike PeQueen: The big worry this week is potential weakening of the economy due to federal government layoffs so the initial jobless claims data on Thursday will be closely watched, as will Friday’s PCE inflation number. 

Data & Dialogue About the Economy



The Fact Pack is a monthly business e-report co-authored by Mike PeQueen of Hightower Las Vegas and John Restrepo of RCG Economics, which combines important metrics relevant to business decision makers and financial commentary on the current issues facing the economy.

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