The discrepancy between goods expenditures and service expenditures is striking. (Can’t spend on airfare, hotels or restaurants? Might as well buy a car, fill the trunk full of food and new kitchenware, and covidroadtrip to an airbnb instead.)
A major difference: if you pull forward services spend there is no inventory build up at the household level; Pull forward goods spend though…
Also the discrepancy with the global financial crisis is striking: there goods purchasing was structurally impaired for ~the entire decade (not much need for new furniture when your Fort Lauderdale investment/vacation condo is getting foreclosed upon)
@wintonARK True about the pull forward of goods vs services, but you can still "stock up" and "satisfy demand" right? How are you thinking about measuring the pent up demand, in-home supply, and satisfied demand of goods vs services?