Americans Cut Back on Travel and Restaurants

Many restaurants remain closed or must serve only on ourdoor patios. Photo by Jason Leung on Unsplash
To save money, Americans are cutting back on dining out. Photo by Jason Leung on Unsplash.

Thanks to inflation and concerns about the economy, Americans are eating out less, cutting back on vacation plans, and delaying even low cost activities such as getting haircuts and manicures. While retail sales are also slowing, spending on goods is not declining as fast as spending on services.

As I’ve said before, when the mainstream media starts covering a trend, it’s been going on for a while. This is just further proof that we’re in the headwinds of a recession.

Published 6/18/2022. Read the entire article.