Apr
22

Constricted Consumption

While politicians can argue about who has the authority to reopen the economy, in the end it is consumers and businesses that will make that decision based on safety and security. Early evidence from China (which is at best an untrustworthy data source), is not good. March retail sales fell 19%, suggesting the combination of behavioral changes and the material loss of wealth and income meaningfully held back consumption.

Share This Post
Facebook Twitter Email

Speak Your Mind

*

This site uses Akismet to reduce spam. Learn how your comment data is processed.