Prevedere Connect: Insights & Technology

Mr. Andrew Duguay, Prevedere Chief Economist, and Ms. Nicole Collida, Nielsen SVP & North American Consumer Intelligence Lead, weigh in on the latest economic update and impact on U.S. consumers. High unemployment, continued state restrictions, and delayed stimulus payments have precipitated the sharpest consumer confidence plunge in over 15 years.  
 
In this latest consumer-focused report, Mr. Duguay and Ms. Collida delve into Q2 economic data, and research findings, shining a light on the pandemic led recession's complex nature. As lowered stimulus payments impact U.S. households, 38% have shifted their behaviors as money becomes tighter, and job concerns are top of mind. 

The updated report leverages Prevedere's leading indicator economic modeling combined with Nielsen survey and category data to deep-dive into the collective consumer mindset. 

Listen to learn how consumers are reacting to current economic challenges across industry segments through 2H-2020, as each leader discusses the latest economic-financial data and Nielsen's research.

In his latest economic report, Mr. Andrew Duguay, Prevedere’s Chief Economist, focuses on the government stimulus and the impact on recession and recovery trends across states and geographical regions.

Jobless claims hover just above 10% since COVID-19 peaked earlier this year, due to a surge of new cases, and states rolling back reopening plans. Mr. Duguay explores how businesses can adapt to the volatile landscape to accommodate agile business planning when downturns happen to create new opportunities.

U.S. economic viability is reliant on each State’s overall economic form. This recent crisis is experiencing a much wider gap between states than historically observed. States that had fewer COVID-19 cases and reacted modestly will allow for earlier openings and less transition. Additional boosts come from states dominated from industries that can recover faster than those that rely on tourism or the service industry. Businesses will need to focus on forecasting by geography in addition to other factors.