Impact of the COVID-19 on Changes in Consumption Structure——Empirical Analysis Based on the United States

Based on the US consumption data from the second quarter of 2014 to the first quarter of 2022 and the severity index, this paper studies the impact of the COVID-19 epidemic on the change of the US consumption structure from personal consumption expenditure, durable goods consumption, soft goods consumption and service consumption. Research has shown that the epidemic has had varying degrees of impact on the consumption of service sectors, durable goods consumption, and soft goods consumption. Governments around the world should pay more attention to the service industries severely affected by the epidemic and take measures to cushion the impact of the epidemic, while also paying attention to the long-term consumption impact of durable and soft goods.