{'fraction_non_alphanumeric': 0.014375561545372867, 'fraction_numerical': 0.0071877807726864335, 'mean_word_length': 4.772020725388601, 'pattern_counts': {'":': 0, '<': 0, '<?xml version=': 0, '>': 0, 'https://': 0, 'lorem ipsum': 0, 'www.': 0, 'xml': 0}, 'pii_count': 0, 'substrings_counts': 0, 'word_list_counts': {'cursed_substrings.json': 0, 'profanity_word_list.json': 0, 'sexual_word_list.json': 0, 'zh_pornsignals.json': 0}}
The effect of the COVID-19 pandemic on consumer savings and retail sales: Evidence from a postcommunist transition economy

When coupled with strong external shocks such as COVID-19, the high levels of
 uncertainty that characterise fragile economies can have a strong impact on
 household consumption and saving behaviour. This paper analyses household
 consumption and saving behaviour in conjunction with COVID-19 in the context
 of a post-communist economy. Models and intervention analysis are used to
 identify the effect of catastrophic events such as the COVID-19 pandemic on
 two key macroeconomic measures for the Albanian economy. The findings show
 that the pandemic period caused a significant contraction of consumer
 spending and a significant increase in savings. Higher uncertainty appears
 to have been a key driver of such household behaviour. The effect on savings
 will endure in the long run, while retail trade is expected to recover.
 These findings call for a more astute use of fiscal and monetary policies to
 address the harmful emerging short-run effect of reduced household spending.