8 days ago • Posted by Martin Boujol
Not all consumer spending are equal facing Covid-19
In the US, consumer spending were down 18% in April compared to January. They somehow recovered, being within 1.75% of pre-pandemic levels in October before slowing in November and December. Looking at the charts, it seems that the impossibility to spend on services has pushed up the spending on goods, which are up 5% from pre-pandemic levels.
Source: Statista, U.S. Bureau of Economic Analysis