US Household Spending 'Elevated,' But Disruption Concerns High: Cowen
Household spending remains “elevated” and e-commerce buying activity “reaccelerated slightly” through early September, said Cowen’s COVID-19 consumer tracker Thursday. The Aug. 24-Sept. 9 survey of 2,500 U.S. consumers showed slightly higher vaccination rates and willingness to take a vaccine, “but…
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life disruption expectations and comfort with establishments continued to worsen as Delta fears persist,” it said. Respondents’ comfort level in returning to establishments declined for the second straight month as the delta variant drove COVID-19 cases higher, it said. Eighty percent were willing to take or had already taken or scheduled a vaccine, up from 78.6% in July; 6.7% didn’t know or were unsure about getting a vaccine vs. 25% in December, 34% in September 2020. Spending intentions were highest among those who had scheduled an appointment.. E-commerce spending ticked up for about 31% of respondents during the period. Sixty-five percent of respondents expected the pandemic to disrupt their lives for another six months or longer, an upward trend from May (45%) and July (56%). Comfort levels with traveling by air in the next three-six months slipped a point to 16%.