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NEW YORK, May 27, 2021 /PRNewswire/ -- In the first weeks of 2021—and the pandemic's second year—US consumers were feeling growing financial pressures that restrained their spending, according to a survey conducted in February.
The Conference Board® Global Consumer Confidence Survey, found that 62 percent of respondents were cutting back on expenses—a 13-point spike from Q1 2020.
However, by the end of the first quarter, caution was giving way to a surge in spending, as consumers began feeling the effects of the latest round of government stimulus. The first quarter also saw an increase in both savings and investments into stocks and mutual funds, as compared to Q1 2020. As set forth in an accompanying report,