COVID-19

Here's how COVID-19 fiscal support has affected our spending behaviour

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COVID-19 affected individuals and households differently. Image: Unsplash/Towfiqu barbhuiya

Dimitris Georgarakos
Senior Economist, DG-Research, European Central Bank
Geoff Kenny
Head of the Monetary Economics Section, European Central Bank
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Graph showing different types of pandemic-related government support in 2020
Nearly 75% of respondents received no government support. Image: CES data collected in December 2020.

Graph showing perceived adequacy of government support in the euro area.
Those who received support perceived fiscal interventions to be more adequate. Image: CES
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Graphic showing holiday purchases and perceived adequacy.
People who perceived fiscal interventions to be more adequate were more likely to purchase big-ticket items. Image: CES
Graphic showing car purchases and perceived adequacy
The adequacy of fiscal support has a positive causal effect on spending. Image: CES
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COVID-19Pandemic Preparedness and ResponseSocial Protection
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