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That makes sense for April. With restaurants, bars, concerts, theaters, clubs, etc all shut down, there was simply less things for Americans to spend their extra money on, that they usually do. Online shopping certainly got some of that action, but only a fraction.
And of course with millions losing their jobs, being furloughed or having their pay cut by 10-50% for months to come, also makes sense we all went super frugal.
I know a lot of people invested their stimulus checks into stocks or just tucked it into a savings account, if they weren't too effected by all this. But of course many used the stimulus and unemployment benefits just to survive.
Either way, not many were in the mood, or could they stimulate the economy with consumer spending. Which makes all the sense in the world.
Unless Congress gives out more money, May should look way worse overall. As things slowly reopen though, I do expect things to slowly climb back to 'normal' over the next coming months. But it will be a long while before we ever get back to 100% of where we were. With many industries being hit so hard, 100% recovery could take years. But getting back to 60-80% of where we were I think could take as little as a few months.