Forward Looking Consumer Survey
Slowing Stimulus = Slowing Prospects
Forecast for July 2021 (Y/Y Change)
- RR’s Intent to Eat Out Index (our survey of 1,500 consumers’ plans to eat-out over the next month) is running out of steam along with government stimulus.
- It seems that material food-away-from-home inflation can only be absorbed by government stimulus. Without this, traffic suffers.
- Notably, supplemental unemployment benefits are set to end in at least 25 states beginning in mid-June.
- Fortunately, child tax credit payments are forthcoming shortly.
- Weakness is most notable among the working age demos (25-64).
Monthly Sequential Change