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ANALYST REPORT
U.S. Consumer
Spending Report
Rising costs for essential household expenses are
crowding out spending on discretionary categories
FEBRUARY 2022
© 2022 Morning Consult, All Rights Reserved.
ABOUT THIS REPORT
Morning Consult’s monthly U.S. Consumer Spending Report provides a detailed assessment of
purchasing patterns reported by consumers across a variety of categories of goods and services.
Businesses and investors rely on this report to understand emerging trends in consumer demand and
shopping patterns across demographics.
The report draws on Morning Consult Economic Intelligence, a high-frequency, global economic
dataset reflecting more than 11,000 daily economic surveys across the 15 largest global economies.
2
TABLE OF CONTENTS
4 January Spending Summary
12 Housing
22 Groceries & Restaurants
34 Transportation
44 Health Care
51 Home Furnishings
59 Apparel and Personal Care
67 Methodology
3
SECTION 1 JANUARY SPENDING SUMMARY
SUMMARY
U.S. adults spent more on Rising prices coincided with a dip in Households allocated a higher share of
average incomes in January, hurting U.S. monthly spending to increasingly expensive
staple categories and less on adults’ ability to cover household staple categories such as groceries and gas
discretionary purchases in expenses last month. The annual rate of last month, crowding out spending on less
inflation climbed to 7.5 percent in January, essential categories such as restaurant
January as inflation
driving up household expenses at a time dining, travel, apparel and personal care.
concerns influenced buying when the rapid spread of omicron briefly
Spiking omicron cases had a modest
patterns. Overall, spending stalled employment growth. People found
impact on spending patterns compared to
themselves squeezed by higher living costs
declined slightly less on a as average incomes fell, leading more
prior surges. While certain services
categories suffered from weaker demand,
nonseasonally adjusted basis households to miss housing payments or
health care spending increased. A higher
report lower confidence in their ability to
than might be expected cover grocery bills or auto payments.
share of adults reported serious illness and
hospital stays in January as case counts
following the close of the
As affordability concerns escalate, soared across the country, leading to an
holiday season. consumers are spending more on what uptick in out-of-pocket health care spending
they need while cutting back on and medical debt — the latter of which may
discretionary purchases. weigh on spending going forward.
5
SUMMARY
Housing Grocery & Restaurants Transportation
Rising home prices and rents are making housing As prices for food continue to climb, a growing Personal vehicle ownership remains a priority for
increasingly unaffordable for some households, while share of wallet is being allocated to grocery U.S. households, even amid increasing costs for
higher borrowing costs and tight supply look unlikely staples. Consumers feel increasingly doubtful auto leases and loans, insurance and gas.
to provide price relief anytime soon. Lower-income about their ability to afford food each month, Confidence in the ability to make car payments sank
adults — who tend to be renters — reported the contributing to belt-tightening behaviors such as in January as incomes fell, but cost concerns have
sharpest increase in housing costs over the past year. fewer trips to restaurants. yet to spur wider adoption of public transit as a
substitute means of transportation.
Health care Home furnishings Apparel and personal care
Monthly outlays on health care increased in Consumers cut back on furniture purchases in As a growing share of U.S. consumer spending is
January as omicron triggered a rise in serious January, but future purchase intentions have concentrated on increasingly expensive staple
illnesses. Insured rates have risen over the past climbed over the past year as young adults reported categories, a smaller share of wallet is available for
year, helping to keep out-of-pocket expenses more frequent moves. Elevated prices and limited discretionary categories. The holiday demand boost
contained, but medical debt may weigh on housing stock may constrict purchasing capacity quickly dissipated for clothing, accessories, personal
spending going forward. going forward. care items and salon and spa services.
U.S. Spending Report | February 2022 6
Spending declined overall in January, with housing and grocery purchases combined
accounting for half of total outlays
Reported average monthly spending in January by category, all U.S. adults
$1,128
Housing and groceries’ share
of total spending*
Total = $3,139 52%
▼ $34 from December
50%
$442
48%
$203 Jun Jul Aug Sep Oct Nov Dec Jan
$92 $93 $95 $117 $121 $131 $142 $148 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘22
$74 $78
$29 $33 $44 $54 $55 $60
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*Total spending excludes personal care due to limited history
Source: Morning Consult Economic Intelligence
U.S. Spending Report | February 2022 7
Consumers focused spending on essential goods and services as inflation
put pressure on household budgets
Percentage change in spending among all U.S. adults from December 2021 to January 2022 • Average spending fell slightly from December to
January on a nonseasonally adjusted basis, as
6% 5% higher outlays for essential goods and services
4% 4% like groceries, transportation and health care
3% 2%
2% crowded out spending on discretionary categories.
1% 1%
• While seasonal effects contributed to fallen
-1% -1% -1% demand for categories like travel and apparel,
-2%
-3% increased financial vulnerability amid elevated
-6% inflation and omicron’s interference with hours
-9% -9% -9% worked and associated pay losses further
weakened demand.
-14% • With the omicron surge retreating, the labor
market is poised to continue supporting income
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Source: Morning Consult Economic Intelligence
U.S. Spending Report | February 2022 8
Reported income fell in January as omicron rippled through the workforce
Average reported monthly income, all U.S. adults • Average reported monthly household income fell in January
from the previous month, with the rapid spread of omicron
triggering an uptick in lost pay as wage earners worked fewer
$2,950 hours due to sickness or fear of the virus — and took home
$2,900 smaller paychecks as a result. Income from pension plans also
declined as equity markets suffered a shaky start to 2022.
$2,850
• Compared with a year ago, household incomes grew 6.4
$2,800
percent. Improvements in the labor market have largely
$2,750 replaced government transfers like unemployment insurance
$2,700 and stimulus checks, while employers have grown more
$2,650 resilient in the face of virus surges, laying off fewer workers
during omicron than during previous periods of elevated cases.
$2,600
• Though wage growth over the past year has been substantial,
$2,550
pay has still not managed to keep pace with the annual rate of
$2,500 inflation. Continued income growth will be essential to
$2,450 supporting spending demand going forward, but it also poses
Jan. Feb. Mar. Apr. May. Jun. Jul. Aug. Sep. Oct. Nov. Dec. Jan. the risk of contributing to inflation as higher wages as a cost
‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘22 input drive up services prices.
Source: Morning Consult Economic Intelligence
U.S. Spending Report | February 2022 9
Wage income for Americans and their spouses declined in January, pushing more households
to rely on government support such as unemployment insurance and SNAP benefits
Share of U.S. adults who said their household typically earns income from the following sources: Net change (in percentage points)
from December to January
Money you earn from working 59% -0.2%
Money your spouse/partner earns from working 42% -1.6%
Social Security payments 41% 2.5%
Retirement savings or pension plans 32% -0.3%
SNAP benefits/Food stamps 30% 2.8%
Other sources of income 26% 1.7%
Disability or SSDI payments 22% 2.8%
Profits from a business 19% 1.4%
Rent payments from a house or apartment we own 19% 1.4%
Money that your parents earn from working 17% 0.8%
Money that your children earn from working 13% 1.2%
Money from alimony/child support 11% 0.5%
Unemployment benefits from the government 11% 0.5%
Legal settlement payments 10% 0.4%
Source: Morning Consult Economic Intelligence
U.S. Spending Report | February 2022 10More U.S. adults anticipate a slight increase in spending in February as expenses and incomes
appear poised to keep climbing
Respondents were asked to estimate next month’s spending relative to the previous month’s
A lot more A little more About the same A little less A lot less than
than last month than last month as last month than last month last month
January February
All U.S. adults 8% 13% 49% 14% 16% 9% 15% 56% 10% 10%
Gen Z adults 11% 19% 40% 12% 17% 17% 20% 43% 12% 9%
Millennials 13% 15% 40% 15% 16% 12% 19% 49% 11% 10%
Gen Xers 6% 10% 53% 13% 18% 8% 13% 59% 9% 11%
Baby boomers 10% 57% 15% 14% 12% 66% 11% 8%
Source: Morning Consult Economic Intelligence
U.S. Spending Report | February 2022 11SECTION 2 HOUSING
HOUSING KEY TAKEAWAYS
1 Rising prices are pushing rents and mortgage payments out of reach.
Spending on housing dipped 3% in January as higher rent and mortgage payment amounts, combined
with flagging incomes, spurred an uptick in missed or deferred payments.
2 Lower-income adults reported the sharpest increase in housing costs over
the past year.
Adults in households earning less than $50,000 per year were disproportionately impacted by rising
housing costs. Many in this group are renters rather than owners, and therefore more likely to be
exposed to frequent changes in market prices as lease terms expire.
3 Supply remains tight as unaffordability discourages sellers from trading up.
Compared with the same time period in 2021, U.S. adults report plans to buy homes at a similar rate,
but the share who are planning to sell their homes has dropped. The widened gap between demand
and supply looks likely to continue asserting pressure on housing prices, while rising borrowing costs
add to the financial burdens of homeownership.
13Monthly housing payment amounts fell slightly in January, even as prices rose
Average monthly spending on housing vs. housing consumer price index (CPI), all U.S. adults • U.S. adults spent slightly less on housing in
January as elevated monthly price increases
led a higher share of household to miss rent
CPI - Owner's equivalent rent (housing CPI
equivalent, monthly percentage change) Monthly spending on rent and mortgage payments.
CPI - Rent of primary residence (renters' CPI or mortgage payments
equivalent, monthly percentage change) • Housing prices continued to climb, with the
consumer price index (CPI) rising 0.4 percent
$1,400
0.6% in January. The housing-equivalent CPI
$1,200 measure tends to lag home sale prices — it is
weighted toward in-place home residents
$1,000
with steady monthly payment amounts rather
0.4%
$800 than recent home purchasers, whose costs
more closely reflect recent market conditions.
$600
0.2% • While the labor market remains strong and
$400
wages are increasing, omicron led to an
$200 uptick in lost pay in January. Weaker income
for the month was compounded by rising
0.0% $0
1 1 inflation, resulting in more households
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J M M S N J
Sources: Morning Consult Economic Intelligence, U.S. Bureau of Labor Statistics
U.S. Spending Report | February 2022 14Gen Z and Gen X drove the decline in housing payments last month
• Spending by Gen Z adults continues to Average monthly spending on housing, January 2022 housing share of
fluctuate from month to month, with this by generation wallet, by generation
group persistently allocating a relatively
Gen Z adults Millennials Gen Xers Baby boomers
lower share of wallet to housing than other
generations — possibly as a result of $1,400
31% 36%
roommates or parental assistance limiting
their expenses. $1,300
Gen Z adults Millennials
• Gen Xers reported a decline in housing
$1,200
payment amounts in January, though
compared with a year ago this group
$1,100
registered higher cost growth than the 36% 38%
other generations.
$1,000
• Millennials and baby boomers said their
Gen Xers Baby boomers
housing payment amounts increased in $900
January. For millennials, a strong uptick
in moves compared with the prior month $800
likely contributed to higher rent and Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan
mortgage amounts, since market prices ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘22
have risen compared to those paid by
occupants already living in place.
Source: Morning Consult Economic Intelligence
U.S. Spending Report | February 2022 15Moves and missed payments increased as rising costs and an uptick in lost income made rents
and mortgage obligations unaffordable for some adults
Share of respondents who said they moved, Share of respondents who said they missed payments,
by generation all U.S. adults
Dec '21 Jan '22 Dec '21 Jan '22
My household did not pay the rent
6.6% Missed or mortgage in full last month 6.3%
payment even though we didn't receive
6.0% permission from our bank or 7.3%
landlord
Our landlord or bank allowed us
to not pay the rent or mortgage in 6.4%
4.4% Forgiveness full last month, and we will not
have to repay the difference in 7.2%
the future
3.4%
Our landlord or bank allowed us
to not pay the rent or mortgage in
7.3%
2.6% Forbearance
2.2% 2.3% full last month, but we will have to
repay the difference in the future 8.7%
1.9%
We received an eviction notice
4.5%
0.2% 0.2% Eviction from our bank or landlord
4.6%
All U.S. adults Gen Z adults Millennials Gen Xers Baby boomers
Source: Morning Consult Economic Intelligence
U.S. Spending Report | February 2022 16Housing costs climbed steadily for lower-income adults, while middle-income and higher-
income groups paid less in January 2022 than they did in January 2021
Average monthly spending on housing, by income
Less than $50,000 $50,000-$99,999 $100,000 or more
$1,000 $1,600 $2,200
$900 $1,500 $2,100
$800 $1,400 $2,000
$700 $1,300 $1,900
$600 $1,200 $1,800
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Sep
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Jan
Jun
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May
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Jun
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Feb
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Jan
• Over the year, lower-income households (those earning less than $50,000 vulnerable to frequent price increases than homeowners living in place and
per year) reported a clear upward trend in monthly housing costs, rising 16 paying off mortgages, who would only be exposed to rising market prices
percent since January 2021. This group is disproportionately made up of when they decide to move.
renters, whose relatively short lease terms make them more likely to be
Source: Morning Consult Economic Intelligence
U.S. Spending Report | February 2022 17Home price expectations for adults living in rural and urban areas climbed
to their highest point in more than a year
• The share of U.S. adults expecting housing price increases Share of U.S. adults who expect housing prices to increase in the next 12 months,
over the next 12 months fell slightly as fewer adults living in by community type
suburban areas said they anticipated rising home values.
All U.S. adults Rural Suburban Urban
Compared with a year ago, however, price expectations
have risen 17 percentage points for all U.S. adults.
The share of urban adults expecting
• For urban and rural adults, price expectations continued price increases has climbed to 55%
70%
to climb in January. Since a year ago, the share of adults
in urban or rural communities expecting price increases 60%
rose 22 points, compared with a 12-point increase for
50%
suburban adults.
40%
• Earlier in the pandemic, suburban areas benefited from
households fleeing cities in search of more space at 30%
affordable prices. Now, relatively softer price expectations
20%
for suburban adults may indicate that this trend is slowly
reversing: Cities are recovering from pandemic slowdowns 10%
and suburban homes are becoming less affordable,
0%
recalibrating demand back toward urban areas.
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan
‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘22
Source: Morning Consult Economic Intelligence
U.S. Spending Report | February 2022 18More adults see homebuying as a poor investment, despite expectations for rising prices
Share of U.S. adults who said buying a home in their ZIP code is a very bad or somewhat bad investment • Elevated price expectations should
indicate that consumers view real estate
as a promising investment.
11%
• However, the share of U.S. adults who
10% said they view home purchasing in their
neighborhood as a somewhat or very
9% bad investment has steadily climbed over
the past year, even as price expectations
8% ticked higher during that time.
7% • Recent pessimism could be the result of
rising interest rates, as some consumers
6% may feel they missed the boat for
affordable loans.
5%
• Others may simply view current prices as
4% prohibitively expensive, crowding out
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their ability to afford other expenses.
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Source: Morning Consult Economic Intelligence
U.S. Spending Report | February 2022 19Supply continues to tighten as planned sellers retreat from the housing market
• The share of adults planning to sell their homes Share of U.S. adults planning to buy or sell a home in the next 12 months
over the next 12 months declined to 9 percent in
January, down from 11 percent during the same
period in 2021. The share of adults planning to Sell Buy
buy homes was 14 percent, indicating that 25%
demand will continue to outpace supply in the
coming months, adding pressure to prices. 20%
• Rising home prices appear to have done little to
convince sellers to put properties on the market.
15%
This may be because potential sellers don’t want
to enter the fray with other buyers; leaving their
current homes would mean they’d need to find 10%
somewhere else to live — with rising interest rates
adding to the cost burden.
5%
• New construction may eventually help alleviate
constricted supply. However, higher loan
0%
servicing costs, supply chain bottlenecks on
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan
materials and elevated wage growth are likely to ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘22
hinder the pace of completions.
Source: Morning Consult Economic Intelligence
U.S. Spending Report | February 2022 20Rising energy prices drove up utilities costs compared with January 2021
Average monthly spending on utilities vs. utilities consumer price index (CPI), Percentage change in average spending from
all U.S. adults January 2021 to January 2022, by region
Energy services consumer price Monthly spending on utilities
index
240 $210 9.8% 10.0%
235
230 1.7%
$200 3.6%
225
220 West Midwest Northeast South
215 $190
• U.S. adults in all regions spent more on utilities in January than
210 they did during the same period in 2021 as rising energy prices
205 drove up heating costs.
$180
200 • The Midwest and South reported the largest increases in
195 spending compared with a year ago as most of the country saw
unusually cold weather. The West, meanwhile, enjoyed relatively
190 $170
mild weather — with California experiencing warmer than
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Source: Morning Consult Economic Intelligence, Bureau of Labor Statistics
U.S. Spending Report | February 2022 21SECTION 3 GROCERIES & RESTAURANTS
GROCERIES & RESTAURANTS KEY TAKEAWAYS
1 Elevated price growth is challenging U.S. adults’ ability to afford groceries.
Consumers spent slightly more on groceries in January compared with December as prices continued to climb,
but elevated costs are increasingly taking a toll on consumers’ confidence in their ability to afford monthly food
costs. Price expectations continue to trend higher as supply chain disruptions persist for grocery items.
2 Omicron appeared to do little to discourage foot traffic in grocery stores.
Even as omicron case counts surged to unprecedented levels in many parts of the country, in-person grocery
shopping was largely unaffected by mounting health risks. Consumers visited stores more frequently than
during the previous month and ordered groceries online less often than in December.
3 Restaurant spending remains weak as cost challenges spur substitution effects.
As inflation concerns prompt consumers to be more aware of prices, U.S. adults are cutting back on restaurant
spending, diverting those savings to grocery purchases instead. The share of total food spending allocated to
restaurants hit its lowest point in the past year in January.
23Grocery spending increased from December as persistent shortages pushed up food costs
Average monthly spending on groceries vs. food consumer price index (CPI), all U.S. adults • Grocery spending in January increased to its
highest level since August, even as
Food at home consumer price index Monthly spending on groceries consumers expressed increased trepidation
280 about their ability to afford grocery bills.
$500
• Prices for groceries have risen sharply since
January 2021 amid supply chain disruptions,
270 with the CPI for food consumed at home up
$450 7.4 percent year over year. While supply
bottlenecks for some goods appeared to
260 ease last month, the severity of shortages for
grocery items worsened.
$400
250 • As multiple categories face rising prices,
groceries remain an essential staple. Rather
than cut back on grocery spending, budget-
240 $350 constrained households are more likely to
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2 reduce spending on discretionary categories
a u n a a
Ja M Ma J Se No Ja J M M J S N Ja such as restaurants or travel.
Source: Morning Consult Economic Intelligence, Bureau of Labor Statistics
U.S. Spending Report | February 2022 24The Midwest trails most other regions in grocery spending levels and growth
Average monthly spending on groceries, by region Monthly percentage change
between January 2021 and
January 2022, by region
West Midwest Northeast South
$490
$470 West 7%
$450
Midwest 1%
$430
Northeast 1%
$410
South 11%
$390
$370
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Source: Morning Consult Economic Intelligence
U.S. Spending Report | February 2022 25Compared with a year ago, nonparents reported a larger increase in grocery spending than
adults with children under 18
Average monthly spending on groceries, by parental status • Parents and nonparents spent more on
groceries in the final month of the year than
Parent (children under 18) Nonparent they did in January 2021, but the increase
$600 was larger for adults without children.
▲ 7.4% since • The expiration of the child tax credit
$500
▲ 2.4% since January 2021 payments may be forcing some parents to
January 2021
$400 tighten the purse strings on grocery
budgets. In January, many parents did not
$300 receive a mid-month payment for the first
time since June 2021.
$200
• School closures and reopenings in the wake
$100 of omicron also could be influencing
parents’ monthly grocery bills: In the fall,
$0
prior to the onset of omicron, parents spent
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lower monthly amounts on groceries, but as
Feb
Apr
Mar
Jun
Nov
Jan
Sep
Oct
May
Jul
Aug
Dec
Jun
Nov
Jan
Sep
Oct
May
Jul
Aug
Dec
Feb
Apr
Mar
Jan
Jan
holidays and the spreading virus triggered
closures in December, spending jumped.
Source: Morning Consult Economic Intelligence
U.S. Spending Report | February 2022 26Food insecurity soared higher across all income groups as wage incomes faltered in January
Share of respondents who said they are not confident in their Share of respondents who said they are not confident in their
ability to pay their monthly grocery bill, all U.S. adults ability to pay their monthly grocery bills, by income
Dec '21 Jan '22
13.4% 13.7% 13.2%
12.6% 11.7%
11.8%
11.0% 10.7% Under $50,000
9.9% 16.3%
9.6% 9.3%
8.2%
7.7% 8.0%
4.9%
$50,000-$99,999
8.0%
1.8%
$100,000 or more
5.7%
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan
‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘22
Source: Morning Consult Economic Intelligence
U.S. Spending Report | February 2022 27Food price expectations for those over age 45 reached series high
• Eighty-six percent of adults ages 65 and older expect food Share of U.S. adults expecting food prices to
prices to rise over the next 12 months, up from 66 percent increase in the next 12 months, by age
in February 2021. People in this age group, many of whom
are retired and living off fixed incomes, tend to worry more All adults 18-34 35-44 45-64 65 and over
about inflation than working adults, who can expect wages 100%
to rise along with prices. 90%
80%
• Adults under 35 remain least likely to expect price
increases. While the share in this group who anticipate 70%
further food cost growth is 15 points higher than it was in 60%
February, that change is smaller than the 20-point increase 50%
registered by the oldest age bracket.
40%
• As persistent shortages hamper grocery availability and 30%
affordability, adults overall are reporting heightened price
20%
expectations over the next 12 months. Even as omicron
10%
case counts begin to recede, labor shortages — and
accompanying wage growth, which is driving up production 0%
and delivery costs — present further challenges to slowing
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‘2
‘2
‘2
‘2
l‘
r‘
‘
c
g
ar
p
ct
n
b
ay
v
Ju
n
down the rise of food prices.
Ap
De
No
Ju
Au
Se
Fe
O
Ja
M
M
Source: Morning Consult Economic Intelligence
U.S. Spending Report | February 2022 28Online grocery orders remain fairly stable despite omicron surge
Average monthly visits to grocery stores, Average monthly online grocery orders, • U.S. consumers showed little sign
all U.S. adults all U.S. adults of adjusting grocery shopping
behavior as a result of the
▲ 0.1 since ▼ 0.1 since omicron surge.
January 2021 January 2021
• Even as case counts worsened
6.2 6.2 6.1
5.8 5.9 5.9 6.0 5.8 from December to January, adults
5.6 5.7 5.8 5.6 5.7
reported an increase in shopping
in person and a slight decline in
online grocery orders.
• Affordability challenges could be a
2.4 contributor: Delivery fees on top of
2.2 2.1 2.2 2.0 2.1 1.9
1.9 1.9 1.9
1.7 1.9 1.8 already inflated grocery bills may
have motivated more consumers
to sacrifice convenience for the
sake of cost savings.
Se 21
M 1
M 21
Au 21
N 21
De 21
2
Fe 1
Ju 1
Ju 1
Ap 1
Ja 21
O 1
M 21
Au 21
N 21
De 21
2
Fe 1
Ju 1
Ju 1
Ap 1
Ja 21
O 1
Se 21
M 1
‘2
‘2
‘2
‘2
‘2
‘2
‘2
‘2
‘2
‘2
‘2
‘2
‘2
‘2
‘
r‘
l‘
‘
‘
‘
r‘
l‘
‘
‘
‘
‘
g
b
n
ct
ov
ay
n
ar
c
p
n
ct
ov
ay
n
ar
c
p
g
b
n
n
Ja
Ja
Source: Morning Consult Economic Intelligence
U.S. Spending Report | February 2022 29Restaurant spending grew less than inflation over the past year
Average monthly spending on restaurants, all U.S. adults • Stagnating restaurant spending offer yet
another sign of increasingly cost-
conscious consumers.
▲ 1.6% since
$107 January 2021 • Elevated price growth for ingredients and
worker wages is driving up menu prices.
$102 • As average incomes fell in January and
$101 $101 costs for staples such as housing, car
$100
$99 payments and groceries are increasingly
$98
$97 competing for space in budgets, it is
$96 $96
$95 $95 becoming harder for some households to
$94 justify dining out.
• Even if food costs come down, tight
worker supply is unlikely to yield to
slowing wage growth in the near term,
asserting ongoing cost challenges for
‘21 ‘21 1 1 21 ‘21 1 ‘21 ‘21 1 ‘21 ‘21
n b ar ‘2 r ‘2 y‘ n ul ‘2 g p ct ‘2 v c n ‘22 consumers visiting restaurants.
Ja p a Ju No De
Fe M A M J Au Se O Ja
Source: Morning Consult Economic Intelligence
U.S. Spending Report | February 2022 30High-income earners spent less at restaurants in January than during the same month in 2021
Average monthly spending on restaurants/takeout, by income
Less than $50,000 $50,000-$99,999 $100,000 or more
$100 $130 $160
$90 $120 $150
$80 $110 $140
$70 $100 $130
Middle-income adults were the only
group to report a meaningful year-over-
year increase in spending
$60 $90 $120
1
21
1
2
1
1
21
21
1
21
1
2
1
1
2
1
1
21
1
21
1
‘2
‘2
‘2
‘2
‘2
‘2
‘2
‘2
‘2
‘2
‘2
‘2
‘2
‘2
‘2
‘
l‘
l‘
‘
l‘
‘
n
ar
p
ay
v
n
ar
p
ay
v
Ju
n
ay
v
n
ar
p
Ju
n
No
Ju
n
Ja
Se
No
Ja
Se
No
Ja
M
Ja
Se
Ja
M
M
Ja
M
M
M
• Adults earning $50,000 or more per year slightly increased restaurant spending from December to January, even as the spread of omicron added health
risks to activities like dining out. For those earning less than $50,000 per year, restaurant expenditures have trended gradually lower since peaking in May
2021. As costs per restaurant meal increase, lower-earning adults are less able to absorb the added costs.
Source: Morning Consult Economic Intelligence
U.S. Spending Report | February 2022 31Dining out frequency fell slightly since last month, but remains elevated year over
year, despite omicron risk
Average monthly visits to restaurants, Average monthly takeout/delivery orders, • The frequency of restaurant
all U.S. adults all U.S. adults purchases per month — including
dining out, takeout and delivery —
declined from December to January.
▲ 0.5 since ▼ 0.1 since
January 2021 3.7
January 2021
• Higher prices were more likely than
3.4
3.3 3.3 3.3 3.3
3.2 3.2 3.1 omicron to be the culprit behind the
3.1 3.2 3.1
3.1 3.0
2.8 2.8 2.9 2.9 decline in restaurant visits.
2.7 2.8 2.7 2.7 2.8 2.8 2.7
• Despite record-high daily cases,
2.2
consumers didn't view the risk as
being as acute as it was last year.
Compared with a year ago,
in-person dining occurred much
more frequently, whereas carry-out
and delivery orders — viewed by
many as lower risk with regard to
1
1
‘2 1
‘21
‘21
21
‘2 1
‘21
‘21
‘22
‘21
‘21
‘21
‘21
21
‘21
1
1
‘2 1
‘21
‘21
21
‘2 1
21
‘21
2
‘2
‘2
‘2
‘2
‘2
‘
‘
‘
‘
the virus — fell.
Jan
Jun
Oct
Jul
Aug
Feb
Mar
Dec
May
A pr
Sep
Nov
A pr
Sep
Nov
Jan
Jun
Oct
Jul
Aug
Feb
Mar
Dec
May
Jan
Jan
Source: Morning Consult Economic Intelligence
U.S. Spending Report | February 2022 32As household expenses climbed, adults allocated more food spending
to groceries rather than restaurants
Reported average monthly spending on food, Restaurants’ share of total food spending per month,
all U.S. adults all U.S. adults
Groceries Restaurants
19.4%
$552 $539 $553 18.7% 18.7% 18.5% 18.8%
$527 $533 $533 $546 $535 $528 $519 $530 $537
$510 18.4% 18.8% 18.1%
18.4% 18.3%
18.3%
18.0%
17.8%
Ju 1
1
Ap 1
Ja 1
O 1
Se 1
M 1
M 1
Au 1
1
De 1
2
Fe 1
‘2
‘2
‘2
‘2
‘2
‘2
‘2
2
2
‘2
‘2
‘2
‘2
r‘
l‘
ay
n
ar
c
p
g
b
n
ct
ov
Ju
n
Ja
N
• Steeper costs are triggering substitution effects, with U.S.
adults who are struggling to cover monthly food expenses
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan reallocating a higher share of spending to groceries rather
‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘22 than splurging on dining out.
Source: Morning Consult Economic Intelligence
U.S. Spending Report | February 2022 33SECTION 4 TRANSPORTATION
TRANSPORTATION KEY TAKEAWAYS
1 Vehicle ownership costs keep climbing amid unwavering demand.
The combined average monthly costs of auto payments, insurance and gas spending increased 15
percent over the past year, but consumers continue to prioritize vehicle ownership as a preferred
mode of transportation.
2 Consumers are losing confidence in their ability to keep up with auto payments.
Higher prices for new and used vehicles, along with rising borrowing costs, have driven up the share of adults
who said they lack confidence in their ability to afford monthly payments. An uptick in lost income and troubled
equity markets during January further contributed to financial vulnerability.
3 Public transportation spending recovery has been muted by omicron.
Despite increasing costs associated with vehicle ownership, consumers are not yet turning to public
transit as an alternative mode of transportation. Spending on buses, taxis and metro rides has fallen
since a year ago, partially exacerbated by the omicron surge’s delaying a return to office commutes.
35Car ownership rates remain elevated, with growth driven by Gen Z drivers
Share of U.S. adults reporting that their household owns a car, truck or SUV, by generation
All U.S. adults Gen Z adults Millennials Gen Xers Baby boomers
95%
90%
85%
80%
75%
70%
Gen Z car ownership has
65% increased 15 points since
January 2021
60%
55%
Jan ‘21 Feb ‘21 Mar ‘21 Apr ‘21 May ‘21 Jun ‘21 Jul ‘21 Aug ‘21 Sep ‘21 Oct ‘21 Nov ‘21 Dec ‘21 Jan ‘22
Source: Morning Consult Economic Intelligence
U.S. Spending Report | February 2022 36Car ownership costs and driving costs increased in January
Average monthly spending on vehicle-related categories, all U.S. adults • Average monthly payment amounts for auto leases
and loans, motor vehicle insurance costs and gas
expenditures all increased from December to
Auto payments Car insurance Gas Total: $386 January as U.S. households continued to prioritize
driving to meet their mobility needs amid
$119 widespread price increases.
$114 $115 $117
$115 $110 $122 $119 $121
$101 $111 $120
$91 • Cars and trucks remain supply constrained: The
lingering chip shortage is stemming the influx of new
vehicles, while used vehicles are also becoming
$117 $122 $118 $120
$111 $112 $117 $114 $113 $114 $117 harder to come by.
$105 $114
• Gas spending rebounded only slightly from
December as the anticipated wave of commuters
$160 $157 $154 $163 returning to offices after the holidays was
$140 $142 $145 $149 $149 $137 $142 $142 $148
undermined by omicron.
• Car insurance spending increased to its highest
level since August as vehicle ownership rates
1
21
21
1
1
1
1
21
1
1
1
2
1
‘2
‘2
‘2
‘2
‘2
‘2
‘2
‘2
‘2
‘2
l‘
r‘
‘
ay
c
g
n
ar
p
ct
n
b
v
among younger adults — who tend to pay higher
Ju
n
Ap
De
No
Ja
Ju
Au
Se
Fe
O
Ja
M
M
premiums — increased.
Source: Morning Consult Economic Intelligence
U.S. Spending Report | February 2022 37Gap between used and new vehicle purchases widened to a series high in January
despite diminished price premium for new cars
Share of U.S. adults whose households purchased cars or trucks in the past 12 months • Consumers’ appetite for vehicle purchases
appears undeterred by climbing prices, but cost
concerns likely contributed to a larger share of
New car and truck purchases Used car and truck purchases
adults purchasing used vehicles rather than new
18% ones — despite a narrowing price gap between
16% the two classes of vehicles.
14%
• New vehicle prices have risen 12 percent year
12% over year, whereas used vehicle prices soared 41
10% percent during that time. However, nearly twice
8% as many adults reported purchasing a used
6% vehicle in the past 12 months as reported buying
4% a new one.
2% • The gap in purchasing intentions between new
0% and used vehicles is much smaller — but that has
been true for most of 2021, and so far, plans for
1
1
21
21
1
1
1
1
21
1
1
1
2
‘2
‘2
‘2
‘2
‘2
‘2
‘2
‘2
‘2
‘2
l‘
r‘
‘
ay
v
c
g
n
ar
p
ct
n
b
Ju
n
Ap
No
De
used vehicle purchases have converted at a
Ja
Ju
Au
Se
Fe
O
Ja
M
M
higher rate than those for new vehicles.
Source: Morning Consult Economic Intelligence, Bureau of Labor Statistics
U.S. Spending Report | February 2022 38The share of adults planning to purchase new and used vehicles jumped even as prices
continued to climb
Share of U.S. adults intending to purchase cars, trucks Vehicle consumer price index (CPI)
or SUVs in the next 12 months
New vehicle Used vehicle New cars and trucks CPI Used cars and trucks CPI
29% 240
27% 220
25% 200
23% 180
21% 160
19% 140
17% 120
15% 100
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan
‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘22 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘22
Source: Morning Consult Economic Intelligence
U.S. Spending Report | February 2022 39Adults of all ages reported lower confidence in their ability to make car payments as multiple
categories grew more expensive and competed for space in monthly budgets
Share of respondents who said they are not confident in their ability to Share of respondents who said they are not confident in their ability
make monthly auto payments, all U.S. adults to make monthly auto payments, by generation
Dec '21 Jan '22
12.4%
10.3% 8.4%
9.4% Gen Z adults
9.0% 8.9% 9.0%
8.5% 8.4% 8.8% 8.6% 13.3%
7.7% 8.0% 8.0%
13.7%
Millennials
17.4%
9.4%
Gen Xers
15.9%
1.9%
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Baby boomers
4.4%
‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘22
Source: Morning Consult Economic Intelligence
U.S. Spending Report | February 2022 40Gas spending increased slightly as prices began to stabilize
Monthly percentage change in spending and prices, all U.S. adults
Average monthly gas expenditure Gasoline CPI
15%
10%
5%
0%
-5%
-10%
Feb ‘21 Mar ‘21 Apr ‘21 May ‘21 Jun ‘21 Jul ‘21 Aug ‘21 Sep ‘21 Oct ‘21 Nov ‘21 Dec ‘21 Jan ‘22
Source: Morning Consult Economic Intelligence, Bureau of Labor Statistics
U.S. Spending Report | February 2022 41Public transport and gas spending recovered slowly from holiday dips as omicron
weighed down commuting volumes
Percentage change in average spending on transportation categories, Daily change in requests for directions in the United States by
all U.S. adults transportation type, 7-day moving average
Since December 2021 Since January 2021 Driving Transit
175
165
January average:
155
33% 137.7
145
December average: -15.6
135
153.3
125
115
January average:
105
11% 4% 88.6
3% 2% 95 -12.4
6% 1% December average:
85
109.9
75
-8%
15 2
25 22
6 1
11 1
16 1
21 1
26 21
31 1
10 2
20 2
30 2
22
21
2
2
2
2
2
2
Car Auto loans and Gas Public
2
2
2
Ja 20
De 20
De 20
De 20
De 20
20
De 20
Ja 20
20
20
20
Ja 20
20
insurance lease payments transportation
1
5
c
c
c
n
De
c
c
c
n
n
c
n
n
n
De
Ja
Ja
Ja
Sources: Morning Consult Economic Intelligence, Apple Maps Mobility Trends
U.S. Spending Report | February 2022 42Urban adults increased public transportation spending in late 2021, but pared
back slightly as omicron spread
Average monthly spending on public transportation, by community type
Rural Suburban Urban
$120
$100
$80
$60
$40
$20
$0
Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22
Source: Morning Consult Economic Intelligence
U.S. Spending Report | February 2022 43SECTION 5 HEALTH CARE
HEALTH CARE KEY TAKEAWAYS
1 Health care spending increased slightly as omicron cases spiked.
Over the past year, health care spending has trended lower. As omicron prompted skyrocketing case
counts across the country in January, consumers reported a higher rate of serious illnesses — but only a
small increase in hospital stays, and health care spending increased only slightly from the prior month.
2 The share of adults reporting medical debt increased in January.
While out-of-pocket costs changed little during the omicron surge — likely helped by higher insured
rates — the share of adults with medical debt increased. Going forward households paying off medical
debt will have an added cost burden on top of rising inflation, potentially restricting spending.
3 The share of uninsured adults fell in the past year, but inequalities persist
across demographic groups.
Since January 2021, the share of adults who said they don’t have health care coverage dropped.
Most of the decline was driven by adults in households earning less than $50,000 per year, a group
that has reported higher employment, potentially including jobs with health care coverage.
45Compared with a year ago, out-of-pocket health care spending has fallen, but insurance costs
crept slightly higher
Average monthly spending on health care and insurance, U.S. adults • Total health care costs, including monthly insurance
premiums and out-of-pocket health-related
Health care Health insurance spending, have trended lower since January 2021.
Muted health care costs have helped leave space in
budgets for other spending categories.
• The share of adults overall who said they are
covered by health insurance increased over the
$165 $153 past year, likely contributing to lower out-of-pocket
$158 $152 $148 $147 spending on medical needs.
$140 $143 $136 $133 $142 $142
$141
• Even as omicron drove case counts to
unprecedented highs in January, health care
spending increased only slightly from the previous
$80 $89 $94 $89 $96 $86 $85 $80 month. Vaccines, boosters and the latest variant’s
$78 $77 $78 $71 $74
relatively milder symptoms resulted in a lower
hospitalization rate compared with prior surges.
n ‘21 b ‘21 r ‘21 r ‘21 y ‘21 n ‘21 l ‘2
1
g ‘21 p ‘21 t ‘21 v ‘21 c ‘21 ‘22 While U.S. adults reported a jump in serious
u c n
Ja Fe Ma Ap Ma Ju J Au Se O No De Ja illnesses in January, the share who spent four or
more days in hospitals remained muted.
Source: Morning Consult Economic Intelligence
U.S. Spending Report | February 2022 46Baby boomers and Gen Z reported rising health insurance costs for a fourth consecutive
month
Average monthly spending on health insurance, by generation Monthly percentage change
between December 2021 and
January 2022, by generation
Gen Z Millennials Gen X Baby boomers
$200
$180
Gen Z 14%
$160
$140 Millennials -5%
$120
$100 Gen X -2%
$80
Baby boomers 5%
$60
$40
$20
$0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan
‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘22
Source: Morning Consult Economic Intelligence
U.S. Spending Report | February 2022 47The share of adults reporting medical debt surged in January as omicron prompted
higher utilization of health care services
Share of adults with medical debt and monthly spending on health care categories, U.S. adults
Share of households with medical debt Monthly spending on health care categories
22% $290
21% $270
20% $250
19% $230
18% $210
17% $190
16% $170
15% $150
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan
‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘22 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘22
Source: Morning Consult Economic Intelligence
U.S. Spending Report | February 2022 48Out-of-pocket spending moved little, despite a jump in hospital visits and serious illness in
January as omicron cases surged higher
Share of U.S. adults who said any of the following happened to them, and health care spending:
Unexpected medical Fell seriously ill Spent 4 or more Health care spending
bills or health care costs days in the hospital
15% 115
10% 90
5% 65
The share who said they fell seriously ill hit its
highest point in the past year in January
0% 40
n ‘21 b ‘21 r ‘21 r ‘21 y ‘21 n ‘21 l ‘21 g ‘21 p ‘21 t ‘21 v ‘21 c ‘21 ‘22 n ‘21 b ‘21 r ‘21 r ‘21 y ‘21 n ‘21 l ‘21 g ‘21 p ‘21 t ‘21 v ‘21 c ‘21 ‘22
Ja Fe Ma Ap Ma Ju Ju Au Se Oc No De Jan Ja Fe Ma Ap Ma Ju Ju Au Se Oc No De Jan
• Monthly reported spending on health care, • Higher insured rates compared with a year ago • Rather than driving up health spending in
excluding insurance, ticked up only slightly likely helped keep out-of-pocket costs in check, January, omicron’s greater cost appears to have
January, despite a sharp increase in the share of while the balance of costs associated with been in lost wage income as workers stayed
adults who said they fell seriously ill as omicron elevated sick rates may have contributed to home, as well as an increase in debt that will be
cases soared across the country. rising medical debt. paid off over time.
Source: Morning Consult Economic Intelligence
U.S. Spending Report | February 2022 49Uninsured rates have fallen across all income levels and ethnicities, but disparities persist
Share of U.S. adults who said they did not have health insurance coverage in January 2021 and January 2022
28%
23%
20%
16% 15%
15%
12%
11%
10% 9%
7% 4%
6%
3%
All U.S. adults Less than $50,000- $100,000 or White Hispanic Black
$50,000 $99,999 more (non-Hispanic) (non-Hispanic)
Income Race/Ethnicity
Source: Morning Consult Economic Intelligence
U.S. Spending Report | February 2022 50SECTION 5 HOME FURNISHINGS
HOME FURNISHINGS KEY TAKEAWAYS
1 Furniture spending slumped lower in January.
Furniture spending fell in January as adults living in urban areas — who tend to spend more than
suburban or rural adults on home furnishings — cut back.
2 Gen Z adults continue to move homes most often.
Gen Z adults accounted for more home moves in January than older adults. Home moving tends to
drive furniture demand — however, younger adults are more likely to have lower incomes (and less
purchasing power) than adults of other generations.
3 Purchasing intentions for furniture and home improvement remains stable,
despite elevated price expectations.
The share of adults planning to purchase home furnishings or home repairs or improvements over the
next year was higher than during the same time in 2021, even though tight supply has led to higher
prices for home goods and services, while the share of consumers expecting further price growth has
risen steadily over the past 12 months.
52Spending on home furnishings was muted in January, despite an increase in moves
Average monthly spending on home furnishings, all U.S. adults
$90 $90
$87
$84
$82
$80
$79
$78
Jun ‘21 Jul ‘21 Aug ‘21 Sep ‘21 Oct ‘21 Nov ‘21 Dec ‘21 Jan ‘22
Source: Morning Consult Economic Intelligence
U.S. Spending Report | February 2022 53Adults — especially Gen Z — moved more frequently in January than in the
same month a year ago
Share of adults who moved in the past month, by generation • The share of adults who said they moved homes last
month has trended higher over the past year, mostly
Gen Z adults Millennials Gen Xers Baby boomers driven by increased mobility among Gen Zers.
• Since moving homes often serves as an impetus to
10%
purchase home furnishings, frequent moves are an
9%
indicator of demand. Despite elevated price
8%
expectations for furniture, purchasing intentions for
7% home furnishings and renovations increased
6% compared with January 2021.
5%
4% • Gen Zers tend to move most often, and report
generally lower concern over inflation — so price
3%
growth is less likely to weigh on sentiment for this
2%
group. However, the youngest adults also report
1%
lower household incomes on average compared with
0%
other generations, limiting their purchasing capacity
n ‘21 b ‘21 r ‘21 r ‘21 y ‘21 n ‘21 l ‘21 g ‘21 p ‘21 t ‘21 v ‘21 c ‘21 ‘22 for home goods and furniture.
Ja e a Ap a Ju Ju u e Oc o e an
F M M A S N D J
Source: Morning Consult Economic Intelligence
U.S. Spending Report | February 2022 54While urban adults tend to spend higher amounts on furniture, they pared back
purchases in January
Average monthly spending on home furnishings, by community type Monthly percentage change between
December 2021 and January 2022,
by community type
Urban Suburban Rural
$140
$120
Urban -14%
$100
$80 Suburban 5%
$60
Rural 10%
$40
$20
$0
Jun ‘21 Jul ‘21 Aug ‘21 Sep ‘21 Oct ‘21 Nov ‘21 Dec ‘21 Jan ‘22
Source: Morning Consult Economic Intelligence
U.S. Spending Report | February 2022 55Rural and middle-income adults tend to allocate a higher share of furniture purchases to home
improvement supplies, while high-income and urban adults spend more on decorative items
Average monthly spending on home furnishing subcategories, Spending on home furnishing subcategories,
U.S. adults by demographic
Other furniture, appliances or home Rural
goods 13%
Small home appliances like toasters,
coffee makers or blenders 13% Suburban
Bedding, linens and towels 12%
Urban
Indoor furniture like sofas, bed frames,
dressers, chairs or tables 12%
Large appliances like refrigerators,
kitchen stove, dishwasher, or 12%
$100,000 or more
Materials, tools and supplies for home
repair or renovation 11%
$50,000-$99,000
Lamps or lighting fixtures 10%
Rugs or carpets 9% Less than $50,000
Outdoor furniture 8% 0% 20% 40% 60% 80% 100%
Source: Morning Consult Economic Intelligence, Bureau of Labor Statistics
U.S. Spending Report | February 2022 56Purchasing intentions for furniture and home repairs remain slightly above their level in
January 2021, despite higher costs for goods and services
Share of respondents who intend to purchase furniture in the Share of respondents who intend to purchase home repairs or
next year, all U.S. adults improvement in the next year, all U.S. adults
44% 43%
41% 40% 41%
37% 38%
36% 37%
40% 35% 35% 35%
38% 39%
31% 37% 37% 38% 36%
35% 35% 35% 35%
34%
33% ▲ 1% since
January 2021
▲ 4% since
January 2021
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan
‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘22 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘22
Source: Morning Consult Economic Intelligence
U.S. Spending Report | February 2022 57As inflation percolates across most categories, U.S. adults anticipate further increases
Share of U.S. adults who expect prices to increase in the next 12 months, by community type
All U.S. adults Rural Suburban Urban
Furniture Home repairs or improvements
70% 70% ▲ 20% since
▲ 22% since January 2021
January 2021
60% 60%
50% 50%
40% 40%
30% 30%
20% 20%
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan
‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘22 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘21 ‘22
Source: Morning Consult Economic Intelligence
U.S. Spending Report | February 2022 58You can also read
