Record drop in consumer spending

Consumer spending tumbled a record 16.4% in April as COVID-19 continues to impact the U.S. economy. KPMG Senior Economist Ken Kim breaks down today’s record decline and whether there are signs that perhaps April might mark the trough in consumer spending.

To speak with Ken Kim please contact Matt Weiss at mweiss@kpmg.com

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Matt Weiss

Industrial Manufacturing Corporate Communications Lead, KPMG US

+1 201-307-8138

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Kenneth Kim

Senior Economist, KPMG US

+1 212-954-6144

Email Me

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Record drop in consumer spending

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Matt Weiss

Kenneth Kim

Industry insights and research

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