A market analyst says Americans are spending more on “stuff” instead of services and experiences while staying home during the pandemic and it’s affecting commodity prices.
“Instead of going to restaurants, theaters, and taking vacations, going to Disney World, we’re spending that money on stuff.”
Nate Donnay with StoneX says U.S. consumers have been buying five to 10 percent more stuff, that’s mostly imported, over the past six months which has driven up shipping costs and caused widespread logistical delays.
