Many people in 2020 were on the receiving end of sweeping layoffs in response to the Covid-19 pandemic lockdowns. The pandemic was slowly bringing the .
Consumer Credit Demand, Supply, And Unmet Need During The Pandemic
from Liberty Street Economics
It is common during recessions to observe significant slowdowns in credit flows to consumers. It is more difficult to establish how much of these declines are the consequence of a decrease in credit demand versus a tightening in supply. In this post, we draw on survey data to examine how consumer credit demand and supply have changed since the start of the COVID-19 pandemic.
The evidence reveals a clear initial decline and recent rebound in consumer credit demand. We also observe a modest but persistent tightening in credit supply during the pandemic, especially for credit cards. Mortgage refinance applications are the main exception to this general pattern, showing a steep increase in demand and some easing in availability. Despite tightened standards, we find no evidence of a meaningful increase in unmet credit need.
Americans Spent Relief Money In Unexpected Ways During The Crisis benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.
Pandemic Alters Spending Habits in APAC, Drives Rapid Shift to Emerging Payment Technologies: Mastercard New Payments Index
May, 11, 2021
APAC enthusiasm for QR codes, digital wallets and cryptocurrencies exceeds global averages
As a result of the pandemic, enthusiasm for a broader range of payment technologies has accelerated in the Asia Pacific region as 94% of people say they will consider using at least one emerging payment method, such as QR codes, digital or mobile wallets, installment plans, cryptocurrencies, biometrics and others, in the coming year. This is according to the
Mastercard New Payments Index conducted across 18 markets globally, including India, Australia and Thailand, which reveals that 84% of consumers in APAC already have access to more ways to pay compared to one year ago. Of note for entrepreneurs, 74% of respondents said that they would shop at small businesses with greater frequency if they offered additional payment options.
Investors have again latched on to concerns about inflation after putting their fears on hold last week when the US jobs data proved to be such a disappointment. Tech stocks led the steep downward spiral.
So what changed in the course of less than a week, bringing the inflation narrative back into play? Concerns are centred on commodity prices continuing their upward march and the supply constraints that are materialising. Under the spotlight is the acute global shortage of semiconductor chips that is wreaking havoc on automakers and producers of goods as far and wide as dishwashers and electric toothbrushes.