The American household finds itself under extreme duress as loss of income and jobs caused by the pandemic is on vivid display inside the June U.S. Personal Income and Spending Report. Despite a robust increase in spending, based on income dynamics that are in play during the pandemic, it is quite clear that this is not sustainable and represents the zenith in the release of pent up demand following the reopening of the economy in May. … READ MORE >
consumer spending
April U.S. personal income and spending: Fiscal cliff approaches as income support remains key
With one in four American workers looking for employment or waiting to be recalled to work, there is little doubt that the weak spending environment will partially define the U.S. economic narrative and policy going forward. … READ MORE >
Looking to 2020: Consumer is king amid slowing growth
The American economy will continue to slow toward a growth rate of 1.5% in 2020, below its long-term average of 1.8%, as sturdy consumer spending compensates for financial volatility and erratic trade policy. That consumption, though, increasingly depends on rising asset prices that help boost confidence, and solid job growth. … READ MORE >