Trademagazin > News and articles > Market News > Closed in pounds less, pennies more, but 2021 is already pulling
Closed in pounds less, pennies more, but 2021 is already pulling
Now everything is closed, if you want to spend, only the store is open. However, despite the restrictions and the economic downturn, the amount of consumption expenditures did not decrease in 2020, and in 2021 the wallets will open bigger – blokkk.com wrote. The value of family spending was 22,400 billion in 2020 and it could increase by 500 billion. But the end of 2020 was very weak.
The government expects that in 2020, household consumption expenditures will decrease by 2.9% (in volume). According to our calculations, the decline in the first three quarters was around 2%, so the last quarter could have been very weak if you had pulled down the annual balance sheet so much. With gift purchase, including Black Friday.
Related news
Full-time jobs in retail sector are in demand
Retailers are seeing increased interest from job seekers looking for…
Read more >GKI is more pessimistic than the government about growth, inflation and public finances
GKI hasn’t changed its 2-2.5% growth forecast for 2024. However,…
Read more >For the green transition, some raw materials can cover the need in Hungary to a certain extent
In Hungary, there are raw materials from which the need…
Read more >
More related news >
Related news
6 in 10 Gen Zs prioritise user experience and trustworthy reviews
Over 75% rely on reviews and customer service when shopping,…
Read more >French supermarkets have to inform shoppers about shrinkflation
From 1 July, supermarkets in France will have to alert…
Read more >KSH: Gross average earnings were HUF 605,400 in February 2024, 14.0 percent higher than a year earlier
In February 2024, the gross average earnings of those employed…
Read more >