Consumers, Businesses Face Layoffs, Decline in Income

WWD

Dana Telsey, CEO at Telsey Advisory Group, was quoted in a WWD article.

In a research note this morning from Telsey Advisory Group, Dana Telsey, chief research officer, said with the “quick pace that Covid-19 is impacting the fabric of the U.S. economy, and the response to this pandemic of placing the population in stay-at-home and work-from-home modes, essentially shutting down the economic valve of consumer spending, which accounts for two-thirds of the GDP, American businesses are working to figure out what has never been done — managing cash burn with nearly a zero-revenue budget.”

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