August Global Economic Insights | Visa


August Global Economic Insights

Similar to retirement behavior, COVID-19 reduces the share of household spending on apparel and restaurants.

A bar chart comparing the impact of employed to retired households against the impact of COVID-19. See Image description for more details.
A bar chart comparing the impact of employed to retired households against the impact of COVID-19 from Jan-Feb 2020 to mid-May through July 2020 demonstrating the similar impact COVID-19 had on reduction in the share of household spending. Among Austria, Germany, Greece, SUnited Kingdom, Sweden and Portugal reduction in spending ranging from -8.89% (UK) to -3.57% (Sweden).