Economic Downturn

Hint: A detailed study of 4000 people indicates about 50% downturn in overall consumer spending over March - [1]. There is an inconsistency between this and the reported 8.7 decrease in spending reported in mainstream media [2]. How to reconcile these two?

May 2020

• 4.8% quarter drop - [3]
• Dow Jones Industrial Average down by 20%? [4]. OK, but this doesn't mean much in sales.

April 2020

• 25% down on the S&P 500, which is apparently faster than Great Depression - [5]
• 7.5 decrease in consumer spending

March 2020

• It's 9% drop. [6]
• This one shows 50% drop USA:

https://www.economist.com/graphic-detail/2020/04/09/how-the-covid-19-pandemic-is-changing-americans-spending-habits

This one shows 9% drop USA:

https://www.cnbc.com/2020/04/15/us-retail-sales-march-2020.html

How do we reconcile both?