Consumer buying services now

When Covid-19 hit in March 2020, the nation hunkered down and sales of both goods and services collapsed. Over the following year, goods sales grew so quickly that the existing supply chain couldn’t keep up. Services grew more slowly since most people avoided dining out, traveling, going to the movies, etc.…

**Consumers Are Pivoting Spending to Services Like Dining and Travel**
**With many consumers tapped out on buying physical goods, economists hope warmer weather and waning infections will kick-start service purchases**
**by Harriet Torry, The Wall Street Journal, 2/2/2022**

**Americans responded to the pandemic with a dramatic shift in spending to goods from services. That now appears to be reversing and should gather steam as the Omicron wave of Covid-19 ebbs, economists say....**

**Economists caution that 2022 is off to a weak start. But looking ahead, a strong labor market and rising wages mean many U.S. consumers are starting 2022 with robust income prospects that are likely to help fuel the services recovery this year. Travel, restaurants and entertainment services all stand to benefit...** [end quote]

The NY Times Covid case chart shows a rapid decline in the Omicron spike followed by the expected lagged rise in deaths. The Omicron spike will probably be mostly ended a month or so from now. (Not counting people in hospitals.)…

There are several consumer discretionary funds to invest in, if you believe this story will play out. Invesco Dynamic Leisure & Entertainment ETF is the only one specifically focused on this narrow sector.…


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