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

Media contact

Matt Weiss

Industrial Manufacturing Corporate Communications Lead, KPMG US

+1 201-307-8138

Email Me

Kenneth Kim

Senior Economist, KPMG US

+1 212-954-6144

Email Me

Industry insights and research

Emerging trends and fresh perspectives.

Manufacturing amid the pandemic

June 10, 2020

As some countries begin to open up their production facilities amid COVID-19, Brian Heckler, National Sector Leader for Industrial Manufacturing, discusses some of the trends to keep an eye on.

More
Historic job losses: The numbers are bad, but there's more to the story

May 08, 2020

KPMG Chief Economist Constance Hunter discusses the Labor Department's report showing surging unemployment.

More
FDA blockchain pilot successfully completed

May 04, 2020

Arun Ghosh says the pilot shows blockchain could improve patient safety by reducing the time it takes to alert the supply chain of a product recall from a few days to a few seconds.

More

Record drop in consumer spending

Media contact

Matt Weiss

Kenneth Kim

Industry insights and research

Other articles that might interest you