Consumer Pulse Wave 3

A combination of another week of subsidies and consumers getting their bearings in the crisis has eased some consumer financial concerns, especially with regard to consumers’ perceived abilities to pay bills (particularly core bills like rent and utilities) and how long consumers can sustain themselves financially.

The proportion of consumers saying they own a small business that has been negatively impacted financially continues to increase, indicating growing vulnerability in the small business sector. 

More consumers are turning to withdrawals from savings and retirement accounts to offset shortfalls. This is concerning economically as it may affect retirement (postponements) and overall net worth.