Category: U.S. Economy
Update Economic USA Consumer Confidence
Consumer confidence has started to move sideways at a 120 level. The current measurement placed the indicator at 119.8 down slightly from 120.4. After a steady increase for many months’ confidence has plateaued. It would be nearly impossible for confidence to increase into infinity as it becomes increasingly difficult to maintain improvements. The fact current consumer confidence has not deteriorated is reassuring. Future expectations has also flattened at a low 100 level. The current measurement places the indicator at 102.2 a slight increase over a previous 101.7.
Update Economic USA Consumer Credit
Consumer credit continues to expand at an above historical rate after taking a quick recess while the consumer manages debt in a responsible manner. Default rates in bank card related debt improved while auto loans worsened and mortgage defaults remained stable.
Update Economic USA Housing
Even though housing starts dropped 0.8% this month on a month-to-month basis the number of units increased from 1,155,000 to 1,180,000 at an annual rate. This represents a 2.7% increase on a year-over-year basis.
Update Economic USA GDP
GDP or Gross Domestic Product moved well into the most-likely-range of our forecast at 3.0%. As a comparison, we were at 1.4% GDP at the end of last quarter and 2.1 at the end of 2017. The current average rate is just slightly higher at 2.2%
Update Economic USA Consumer Confidence
Consumer confidence gained 2.3 percentage points to 122.9 in the recovery attempt since a drop several months ago. What is clear in the longer term is an overall continuation in the general outlook. Both consumers and business remains generally confident. Consumers added 5.8 points to their index while business added 1.0 point to the business outlook index. Confidence is higher than it was last year.