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Consumer Goods and Retail Report United States 2nd Quarter

  • ID: 2140141
  • Report
  • May 2021
  • Region: United States
  • 14 Pages
  • The Economist Intelligence Unit
With private consumption accounting for about 70% of GDP (based on 2019 data) and one in five businesses in the country a retailer, the consumer sector is a major driver of the US economy. The Covid-19 outbreak in 2020 threw up several challenges for the consumer sector, leading the country to lose its position as the largest retail market in the world to China. It also led to several retail bankruptcies and dramatically changed shopping patterns in favour of online channels.

During the first quarter of 2021 vaccination efforts in the US have reduced new coronavirus infections and deaths to their lowest level in six months, boosting hopes of a market rebound. The Economist Intelligence Unit forecasts that real GDP will expand by 4.5% over the full year, helped by a US$1.9trn Covid-19-relief package signed by the government led by Joe Biden in March.

We expect the fiscal stimulus, vaccine rollout and improving labour market to help retail sales to surpass 2019 levels in 2021. After an estimated 1.8% decline in retail volumes in 2020, we forecast 3.9% growth in 2021.

Industry List: Consumer Goods, Consumer Goods, Food and drink, Consumer Goods, Non-food products, Consumer Goods, Retail
Industry Codes (NAIC): 44
Industry Codes (SIC): 53
Note: Product cover images may vary from those shown
Consumer Goods and Retail Report United States 2nd Quarter

Consumer goods and retail report: Overview

Consumer goods and retail report: Retail

Consumer goods and retail report: Food and drink

Consumer goods and retail report: Non-food products
Note: Product cover images may vary from those shown
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