They do a monthly Internet based survey called the Survey of Consumer Expectations. They did two special surveys, one in June, one in August. The June survey took a look at how those households spent their $2,400 checks. 18% of those checks were spent on essential consumption. essential. 8% was on non essential. The fun stuff, I guess. 3% donations. Americans are still generous for a total of 29% spent on consumption. The marginal propensity to consume was 29%. (10:05–10:20)
CLAIM
Asserts 18% of stimulus checks were spent on essential consumption.
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