How COVID-19 Has Impacted U.S. Spending Levels

Opportunity Insights researchers at Harvard University have been using credit card data to track U.S. spending levels throughout the pandemic. As this infographic shows, consumer spending plummeted between the middle and end of March. While it was 0.5 percent higher on March 13 than the same day in 2019, it plunged 33 percent by March 30. As states reopen, the trend has started to gradually improve but spending levels remained 10 percent lower than last year on June 15. The situation remains delicate with Dr. Anthony Fauci recently warning of a "disturbing surge in U.S. coronavirus cases". Seven states have now reported a record increase in infections as well as a record number of patients admitted to hospital.