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Covid-19’s Impact on Consumer Spending Continues into 2021
In the 5 weeks following Holiday 2020, retail credit and debit card sales were up about 20% year over year (YoY). By comparison, post-Holiday 2019 only grew by about 10%. So what is driving this post-Holiday 2020 growth for retail? Online sales during...
A Holiday Unlike Any Other – Changes in Consumer Spending Behavior
The week of Christmas 2020 looked a lot different than 2019. The coronavirus pandemic and government recommendations not to travel or gather with friends and family put a damper on traditions. Covid-19's rapid spread impacted consumer spending patterns as well....
Did State Reopenings Increase Consumer Spending? NY Fed Analysis
Commerce Signals Consumer Spending Data Used in Analysis by Federal Reserve Bank of New York The following excerpt is from a recently published article from the Federal Reserve Bank of New York. Their comprehensive analysis is refreshingly apolitical. Here's a link to...