Economic Forecast
- asuddarth
- Oct 10, 2018
- 1 min read
Mostly Sunny
Good news: The economy is hot. Better news: It has staying power.
The headline real GDP figure for the second quarter was slightly weaker than expected, but the underlying details of the report pointed to considerable strength. In fact, the report suggests that the economy is not only hot right now, but that it likely has considerable staying power.
Some of the most important developments in Friday’s data pertain to the consumer. Consumer spending in the second quarter, adjusted for prices, surged at a 4.0-percent annualized pace, well above expectations of a 3-percent rise.
…with a chance of rain.
Consumer debt is set to reach $4 trillion by the end of 2018
Consumer debt has grown since 2012 and is poised to reach a new high by the end of this year.
Individuals are spending about 10 percent of their income each month paying non-mortgage debts including auto loans, credit cards, personal and student loans.
You should evaluate three key areas when thinking about managing these balances.
Read more here
Comentarios