When the Covid 19 induced economic crisis first hit the Austin Round Rock metro area, Dallas federal Reserve economist Christopher Slijke said, consumer spending dropped by 30% as compared to January 2020. But as the crisis dragged on, spending slowly returned, Slijke explained, the latest reading showed by mid-June consumer spending was just 3% lower than January 2020.
Slijke believes this trend is due to more workers in the Austin area are able to work from home than Texas in general, which in turn has also led to more or less maintained paychecks during the crisis.
