Consumers spent far less in April, but their sentiment stabilized in May.
Was April the Bottom? Week of May 25 – 29
GDP, Income, and Spending Plummet: April 27 – May 1
The shutdown late in Q1 inflicted significant damage.
Layoffs Skyrocketed in Mid-March: March 23 – 27
The first set of data reflecting the impact of the COVID-19 pandemic—jobless data—came out last week.
What We Learned About the U.S. Economy Last Week 