Finance and economicsApart, togetherThe world economy has entered a new era, that of the hermit consumer.In some ways covid-19 was a blip.After soaring in 2020, unemployment across the rich world quickly dropped to pre-pandemic lows.Countries re-attained their pre-covid GDP in short order.And yet, more than two years after lockdowns were lifted, at least one change is enduring: consumer habits across the rich world have shifted decisively, and perhaps permanently.Welcome to the age of the hermit.Before covid, the share of consumer spending devoted to services was rising steadily.As societies became richer, they sought more luxury experiences, health care and financial planning.Then in 2020 spending on services, from hotel stays to hair cuts, collapsed.With people spending more time at home, demand for goods jumped, with a rush for computer equipment and exercise bikes.Three years on, the share of spending devoted to services remains below its pre-covid level.Relative to its pre-covid trend, the decline is sharper still.Rich-world consumers are spending around $600bn a year less on services than you might have expected in 2019.