Via BofA:
A unique feature of the COVID shock is its highly unequal impact on goods versusservicesspending.
•Normally fiscal stimulus causes a surge in both goods and servicesspending; in thiscycle services spending could not respond.
Via BofA:
A unique feature of the COVID shock is its highly unequal impact on goods versusservicesspending.
•Normally fiscal stimulus causes a surge in both goods and servicesspending; in thiscycle services spending could not respond.
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