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Collection: On Point
The COVID-19 pandemic affected industries differently, and as the economy more fully reopens, each industry faces diverse challenges in shifting from a crisis response toward recovery. The recovery in business financial conditions has been uneven, as evidenced by considerable variation across industries in key financial metrics, including expected default frequencies (EDF) and certain financial performance ratios. Some of the hardest-hit industries, such as transportation, accommodation, and food service, remain under elevated stress compared with pre-pandemic levels, though retail trade seems to be doing much better.