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The current pivot is to services like travel, restaurants, concerts, and all those delayed weddings

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Gotta get away?
Welcome to the Know the Difference Minute for Thursday, April 7th.
In the early days of the pandemic when consumers were flush with cash, they spent it on goods. Home improvement. Furniture. Appliances.
The current pivot is to services. Wide range, but mostly things like travel, restaurants, concerts, and all those delayed weddings. Demand is still elevated, but consumers have hard decisions to make: the Summer trip or the trip to the mall?
The travel industry says bring it on. It’s not uncommon for 2 million TSA screenings in a day. Airlines bookings are higher than expected—even with route cutbacks because of labor shortages. The average US round trip ticket is $464, up 34%. That’s still lower than 2019.
Still hope for driving vacations but a AAA survey says $4 gas is where we start rethinking our plans.
See you out there.
I’m Dave Spano from Annex Wealth Management. That is your Know the Difference Minute.