During past consumer spending slowdowns, consumer durables, such as household goods and vehicles, have been hit the hardest. And they look likely to come off worst this time too. Spending on essentials, such as food, tends to emerge relatively unscathed. But even these areas might prove to be more cyclical than in the past.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services