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Visa CEO Al Kelly discusses the consumer economy and corporate responsibility today, amid the global pandemic and nationwide protests for racial justice.
An 8% uptick in May follows a 20% drop over March and April. That’s the good news. There are plenty of potential economic blows on the horizon.
About 1 in 6 households reports having more debt now than before the COVID-19 crisis.
With unemployment so high and concerns about the coronavirus spread, we likely won’t see a rebound in consumer spending anytime soon.
The Marketplace-Edison Research Poll finds that 40% of those who shopped online before the pandemic now do it more.
There will be less less close contact and brunches, more electronics, books and creativity.
Consumer spending accounts for 70% of U.S. GDP. Is that going to change soon?
As people see workplaces close, big layoffs and stock market uncertainty, they fear for their financial security.
Consumer spending makes up about 70% of the U.S. economy, so any disruption would have dire effects on growth.
Consumers have been carrying this economy. That may be harder if they’re behind on their bills.