A Lot Of Stimulus Money Is Being Spent On Sneakers And Clothes
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With another round of stimulus checks reaching Americans, more people should be able to stock their pantries and catch up on their outstanding bills. That’s what people are spending this money on, right? Wrong.
Yahoo! Finance reports that Americans have been using their stimulus money to buy more sneakers and clothing. According to new data from Bank of America Global Research, spending on athletic footwear and apparel is up nearly 20% as compared to March of 2020.
Pandemic spending increased even more in other leisure categories, such as golf, cycling, and camping. That kind of spending is certainly helpful to the U.S. economy. Did the government expect to be funding our weekends and wardrobes?
Phil Harris is 50% of "Phil & Mel in the Afternoon" on K104.7. He has been with the station since 2013 and on the air in Charlotte since 2000. Before coming to the Queen City, Phil worked for radio stations in Pittsburgh, Austin, and Seattle. In addition to the weekly "Throwback Threesome" music video feature, Phil writes about things that matter to Charlotte sports fans and pet owners. He happens to be both.
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