Spending by American consumers crashes due to coronavirus

Spending by American consumers crashes due to coronavirus

The largest drop in spending has been witnessed in the month of April in the United States of America with a drop of 13.6% MoM being recorded. While spending and incomes had dropped in the month of March, an increase in income was witnessed in the month of April by 10.5% MoM. The massive government transfer payments are being reported as being the reason for this surge.

Tom A
Tom A
Joshua
Joshua 1 months

People don’t trust that the money/stimulus will continue, so they’re hoarding everything they can. Even the cash.

Chris Cahill
Chris Cahill 1 months

Shocker. Can’t work so not making money so you only spend what you have to if you are smart. Most people who work seasonal careers understand this.

Eva Blue
Eva Blue 0 months

I don't think there's much hoarding. I think what they're spending it on is food, necessities and bills. Not TV'S and clothes. Face it, the price of food and paper goods is going up, masks are required most places, and people's bills didn't go away.

jordi
jordi 1 months

Yes and why buy something when you can just wait for when the riots start and then loot

Top in Business
Get the App