Spending activity off to a strong start | Visa


Sitting on the dock of the bay…¹

Global supply chain disruptions are creating challenges that may begin to limit consumer spending in coming months.

A line chart showing the seasonally adjusted ratio of inventory-to-retail sales ranging from 1.49 months of supply
A line chart showing the seasonally adjusted ratio of inventory-to-retail sales ranging from 1.49 months of supply in January 2019 to a high of 1.67 in April 2020, a low of 1.07 in April 2021 and 1.09 as of the latest reading in May 2021. Comparatively, a second line shows the ratio of inventory-to-retail sales excluding autos ranging from 1.23 in January 2019 to a high of 1.33 in April 2020, a low of 1.03 in March 2021 and 1.07 as of the latest reading in May 2021.