Consumer Spending Flattens After March Jump, a Sign of a Rocky Recovery - News Summed Up

Consumer Spending Flattens After March Jump, a Sign of a Rocky Recovery


Grocery store spending surged during the pandemic while restaurant revenue dropped. Apparel sales plunged as Americans canceled events, and spending on outdoor activities and home improvements soared. “We’re seeing travel start to pick up and people starting to go back to dinner and build in some entertainment. Broadly, many retailers, including L.L. Bean, are feeling optimistic about Americans’ proclivity for spending, as the vaccinations make them feel comfortable returning to stores and postponed events reappear on calendars.


Source: New York Times May 14, 2021 12:44 UTC



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