The new, $900-billion round of Covid-19 stimulus funding in the US immediately boosted spending in groceries among recipients, especially low-income ones, according to new credit and debit card usage data.Spending on credit and debit cards for stimulus recipients grew by 12.7% year-over-year(YOY) for the one-week period ending on Jan. 16, compared to the 2.8% YOY growth for non-recipients according to a new report by economists Michelle Meyer and Anna Zhou from Bank of America Global Research. Increases in stimulus-related spending were highest among households with incomes of less than $50,000, at 22% YOY, versus 11% for low-income households that did not receive the additional funding. Spe
Hence then, the article about new data show the powerful impact of stimulus checks was published today ( ) and is available onQuartz ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details Finally We wish PressBee provided you with enough information of ( New data show the powerful impact of stimulus checks )