Supermarkets see spending spree as shutdown looms

Tue, 24 Mar 2020

Stockpiling by households yesterday looks set to be followed by a sharp collapse in discretionary spending as mandatory self-isolation from midnight tomorrow shuts much of the economy.Non-essential businesses are already closing in anticipation of the lockdown and even before Monday's announcement, one survey suggested a fifth of households had started stockpiling goods fearing tougher controls were looming.And the collapse in spending could be sharp, based on Deutsche Bank Research. An analysis of electronic restaurant reservations in Germany,...

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