A conversation with the experts: The one thing consumers want amid uncertainty
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Various countries around the world are bouncing back and forth between several phases of consumer sentiment during the coronavirus recovery period, Mastercard SVP Global Insights and Analytics Jana DeLancey recently shared. And now, the U.S. is experiencing our own spikes across the nation, rather than concentrated in densely populated areas as it occurred in the spring.
No countries are moving toward the post-pandemic growth phase yet, and based on previous pandemics – which were less drawn out than this one appears to be – DeLancey said they tend to drag GDP down about 3% before a recovery period that could last five years. That means members who are working to keep a steady paycheck, and credit unions that are struggling in the resulting low-interest rate environment, could be in for a few more difficult years.