Open Report:Bespoke – US Covid Update June 2020
Key Takeaways:
- Concern levels with Covid are just a touch lower this month compared to May.
- The percentage of consumers who say Covid is causing significant disruptions in their life has declined, but the percentage of consumers who expect Covid to be an issue for more than a year has increased.
- Consumers continue to take precautions to avoid catching Covid, but to a lesser degree than series highs in our April volume.
- Cooking at home, streaming video, social media, streaming music, and online shopping continue to be the key beneficiaries of Covid. Live events, casinos, and going to the gym continue to see the most significant headwinds.
- Consumers are growing less and less satisfied with the governments response to Covid so far.
- Among those who are employed, fears about losing their job remain at all-tine series highs (nearly double what is typical in our survey).
- Unemployment is up, hours worked among the employed are down, and sentiment toward the US economy remains net negative and lower than all readings recorded since the beginning of 2017.
- Respondents on unemployment are noticing unemployment checks that are higher than normal and higher than their weekly pay at their most recent job (though, to a lesser extent than our survey in May). Respondents who have noticed receiving higher unemployment benefits than normal are more likely to save it than spend it, but the % who said they are spending it increased m/m.
- Sentiment toward personal finances is net neutral but net negative when compared to one year ago. Discretionary income remains depressed relative to normal readings in our survey.
- Credit card delinquencies have increased.
- Doctor’s office visits rebounded off May lows but remain much lower than normal readings from our survey’s history. Dental visits are also still off normal levels.
- Interest in the stock market is at all time series highs.
Key Charts:
