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Consumer Spending and the COVID-19 Pandemic

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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.

Suggested Citation

  • Diego Mendez-Carbajo, 2021. "Consumer Spending and the COVID-19 Pandemic," Page One Economics Newsletter, Federal Reserve Bank of St. Louis, January.
  • Handle: RePEc:fip:fedlpo:89389
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    Keywords

    COVID-19; consumer spending;

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