Coronavirus Sinks U.S. Consumer Spending; Savings Hit Record High

Reuters, May 29, 2020–Lucia Mutikani
U.S. consumers cut spending by the most on record for the second straight month in April while boosting savings to a record high, and the growing frugality reinforced expectations the economy could take years to recover from the COVID-19 pandemic.
https://www.reuters.com/article/us-usa-economy/coronavirus-sinks-u-s-consumer-spending-savings-hit-record-high-idUSKBN2352CI