Consumer Spending Has Declined Due To COVID-19

Durable goods purchases have increased, but consumer spending in the service industry has decreased as a result of the COVID-19 emergency.

The Nebraska City Rotary Club heard a presentation about consumer spending and the pandemic from Kiel VanderVeen, certified financial planning specialist with Blue-Print Financial Planning in Nebraska City.

VanderVeen said new vehicle purchases have increased 15 to 18 percent over the same time period last year, but spending for services is lagging.

He said restaurant spending has decreased and that the restaurant industry overall is suffering as a result of the pandemic.

One recent bright spot, he said, is that charitable giving has increased 20 percent over last year.

VanderVeen said students in the Nebraska City schools have benefited from increased charitable giving.

The Nebraska Community Foundation Fund provided the Nebraska City Community Foundation Fund with a grant to help bridge the learning gap.

The $35,200 total grant is earmarked for mental health services for students and their families.

VanderVeen offered his opinion that the pandemic has brought the Nebraska City community closer together.

He then asked his fellow Rotarians what benefits they've found in the pandemic.

Nebraska City Public Schools Superintendent Mark Fritch said the move to online learning has improved communications between district staff and some families in the community.

NCPS Board Member Stacie Higgins said she's noticed that more people in the community ask about what's going on at the schools and her work on the board these days.

Doug Friedli, executive director of the MRB Lewis and Clark Center, said he's noticed increased interest in mental health and mental health services in the community.

VanderVeen concluded his presentation with a look into the future, noting that 29 million unemployed Americans is a high number, given the amount of economic stimulus the government has provided.

He said that delinquencies on vehicle, rent, and mortgage payments have doubled during the pandemic and posed the rhetorical question of what will happen when the stimulus funds go away.

"What can we do to step up and help our neighbors if things don't change?" VanderVeen asked.

The Nebraska City Rotary Club meets at noon Wednesdays at The Block House, 423 Central Ave.