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Consumer Spending

Consumer Spending

| May 25, 2020

As the economy begins to reopen from the coronavirus lockdown economists have predicted just about every scenario possible, from a 1930’s-style long-running economic depression to an immediate recovery and a quick bounce back to new highs.  Since the United States economy is predominantly consumer-driven, perhaps some insight can be gleaned from consumer spending plans covering the next 6 months.  Uh-oh - only 3 categories of spending are seen as increasing: “Groceries”, “Beer/Wine/Alcohol” and “Candy”.  Every single one of the other 18 categories show reduced spending plans.  Not the sort of plans from which robust recoveries are made, unfortunately.

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