In mid-June, ArrowStream's economists published initial data noting a rise in COVID-19 cases among three of the four largest restaurant states. And as the trend continues, they called out in the most recent issue of ArrowStream's Maloni Report that they're closely watching the mortality rate which, if it rises following the increase in hospitalizations, could mean those states may revisit more permanent social restrictions.

"COVID-19 cases continue to rise in some key restaurant states including three of the big four - Florida, Texas and California. As a reminder, the four states listed below account for 37 percent of annual food service and drinking establishment sales. And three of these states have taken some action in recent days to limit alcohol sales in bars. Texas ordered its bars to close at mid-day Friday, and Florida told its drinking establishments not to close but cease serving alcohol. Obviously, concerns are building that further limitations could be placed on the hospitality industry."