Since the onset of COVID-19, U.S. household consumption recovery has shown marked differences across income groups. Initially, from January 2020 to January 2021, total real consumption growth was -0.1%, with the highest-spending households growing by 1.8% while the second-lowest quintile saw a decline of 2.2%. From January 2021 to January 2023, growth varied across quintiles, with the lowest quintile at 1.9% and the highest at 4.7%. However, by January 2023 to October 2024, consumption growth has stabilized, with all groups experiencing rates close to the national 2.4%. This trend indicates a shift from a highly uneven recovery to a more uniform growth pattern across different spending levels.
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
