Personal consumption in the United States during the COVID-19 crisis

Dayong Dong, Giray Gözgör, Zhou Lu and Cheng Yan

Applied Economics, 2021, vol. 53, issue 11, 1311-1316

Abstract: Using daily credit/debit card spending data for personal consumption expenditures for the period from 24 January 2020 to 10 June 2020, this paper shows that personal consumption expenditures in the United States have been significantly affected by the economic shocks in the COVID-19 era. The evidence is valid when we consider the data both at the national and state levels. The evidence is also valid when we use the data for consumers at different income levels and consumption within different sectors. The only exception is consumption in grocery and food stores since the effect is dampened at the national level and in 31 of 51 states.

Date: 2021
References: Add references at CitEc
Citations: View citations in EconPapers (11)

Downloads: (external link)
http://hdl.handle.net/10.1080/00036846.2020.1828808 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:applec:v:53:y:2021:i:11:p:1311-1316

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/RAEC20

DOI: 10.1080/00036846.2020.1828808

Access Statistics for this article

Applied Economics is currently edited by Anita Phillips

More articles in Applied Economics from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().