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Ready, set, rebound? Not for low-income Americans

While consumer spending as a whole is set to rebound, the recovery is likely to be uneven. High-income households with members who could work remotely have seen their savings spike, and are already in a better position to spend. Low-income households will likely not return to 2019 spending levels by 2024, especially US families that have lost jobs and face income uncertainty.

The recovery in consumer spending may be more uneven in the United States than in Europe.
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To read the article, see “What’s next for consumers, workers, and companies in the post-COVID-19 recovery,” May 18, 2021.