2024-03-18 15:40:00 ET
Summary
- The consumer, or personal consumption, accounts for nearly 70% of U.S. GDP and for that reason it is important to evaluate the overall health of the consumer.
- Since September of last year, the overall level of retail sales has stalled, although a slight uptick was seen in last week's retail sales report, but the reported sales figure missed estimates.
- With the consumer representing a significant percentage of the economy or GDP, the elevated charge-off rate and delinquency in credit card debt might be a canary in the coal mine suggesting some economic headwinds ahead.
The consumer, or personal consumption, accounts for nearly 70% of U.S. GDP and for that reason it is important to evaluate the overall health of the consumer. Since September of last year the overall level of retail sales has stalled, although a slight uptick was seen in last week's retail sales report, but the reported sales figure missed estimates....
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Watching For A Weakening Consumer