Newsletter
Consumer Spending and the COVID-19 Pandemic
Abstract: The onset of the COVID-19 pandemic changed consumer spending habits. The January 2021 issue of Page One Economics reviews how people substituted meals purchased at restaurants with meals cooked at home. Also, people traveled less and the demand for hotel services decreased. As a result, both employment and prices declined in the leisure and hospitality industry.
Keywords: COVID-19; consumer spending;
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Provider: Federal Reserve Bank of St. Louis
Part of Series: Page One Economics Newsletter
Publication Date: 2021-01-04