Don't expect a mad rush to the stores as people get their new stimulus checks authorized in March under the American Rescue Plan Act.
In a recent report, Liberty Street Economics says that people will focus on savings or paying down debt with their most recent stimulus check.
If this may seem to be a departure from previous spending patterns that is because it is. As each new stimulus check came out, people focused less on consumption and more on savings. The amount set aside for consumption fell from 29% in the first round to 26% in the second and 25% in the third, according to Liberty.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
