Skip to main content

Posted 2021-01-04
Consumer Spending and the COVID-19 Pandemic Image

Consumer Spending and the COVID-19 Pandemic

by Diego Mendez-Carbajo

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.