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Tuesday, April 14, 2020

Interesting Shifts in Consumer Spending

From one of my favorite blogs:

To me, the most fascinating aspect of this graph is that "groceries" initially jumped nearly 50% but now appears to be trending back to pre-stay-at-home levels while all other categories continue to decrease.

Much of the drop may be due to the sudden increase in unemployment but we can hope that some of it is due to people simply not having opportunities to spend. If people are saving money now, then maybe they'll splurge when this is over and help revive the economy.

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