2021 Is The Year Of The Consumer

Conclusion

Consumer spending is set to increase this summer. The January retail sales report was very good. The February report should be decent as well. We expect jobless claims to start falling sharply this spring which should really help the consumer. Younger people have had less of a spending decline. There is a massive consumer surplus that will be unleashed later this year largely on travel, entertainment, and restaurants. The large oil glut is almost gone. Prices might increase rapidly later this year when travel rebounds.

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