A potential resurgence in US COVID-19 infections led by the Delta variant will barely dent consumer spending thanks to widespread vaccinations, according to Goldman Sachs economists.

There is little sign that restaurant bookings and consumer spending more broadly are slowing in parts of the country where coronavirus cases have increased in recent weeks, Goldman Sachs analyst Laura Nicolae wrote in a note to clients. Across the Atlantic, British data indicate that country’s recent spike in cases had little impact on economic activity there, she said.

US Vice-President Kamala Harris as she received her second COVID jab early this year. The higher rate of vaccinations will protect America from large-scale economic damage in a Delta variant surge, Goldman Sachs says.Credit:AP

“Economic activity might decrease more sharply if new virus cases and deaths reach higher levels,” Nicolae wrote. “But the combination of the low sensitivity…

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