U.S. households added $43 billion to their credit cards in this year’s second quarter, according to WalletHub.
Tag: U.S. economy
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RETAIL SALES ROSE IN AUGUST THANKS TO RISING OIL PRICES
Retail sales ticked up 0.6 percent in August from July as consumers were forced to pay more for heating oil, gasoline, and diesel fuel. Wholesale prices for gasoline leaped up 20 percent, year on year, jet fuel 23.6 percent, and diesel 41.1 percent.
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IS INFLATION HEADING BACK HIGHER?
In August, U.S. inflation moved up to 3.7 percent after registering 3.2 percent in July. It was the first month-to-month increase in a year.
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U.S. CONSUMER INFLATION, WHOLESALE PRICES SPEED UP IN AUGUST
U.S. inflation rose from July’s 3.2 percent annually to 3.7 percent in August, driven higher by rising gasoline prices, the U.S. labor department reported. Analysts had expected the figure to rise to 3.6 percent.
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ECONOMIC UPDATE – MARKET OVERVIEW
The Street is surprised, but Trends Journal subscribers aren’t. Ready for this “shocking” Bloomberg headline? “Canada inflation quickens to 4 percent, driven by higher gas prices.”
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FEDS PRESSURE BANKS TO INCREASE LIQUIDITY
In the wake of three bank failures last spring, and as the commercial real estate bust continues to unfold, federal bank regulators are pressing small and regional banks to add to their liquidity, Bloomberg reported.
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U.S FACING A REAL ESTATE “DOOM LOOP
From 2015 into 2022, small and regional banks nearly doubled the value of their loans against commercial real estate, amassing portfolios totaling about $2.2 trillion, according to an analysis by The Wall Street Journal. Those banks hold more than 60 percent of all commercial property loans in the U.S. Banks with less than $250 billion in......
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U.S. HOME PRICES ON THE RISE
In May, home prices fell in their steepest monthly drop since 2012, as we reported in “U.S. Home Prices Fall By Most Since 2012” (27 Jun 2023), U.S. home prices began rising again.
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U.S. JOB MARKET “AT AN IDEAL CRUISING ALTITUDE,” ANALYSTS SAY
With 187,000 new jobs in August, the U.S. labor market is in a sweet spot, economists say.
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AS INFLATION SLOWS, PROFITS FALL TOO
After-tax corporate profits in this year’s second quarter were 9.4 percent below those of a year earlier, the U.S. Commerce Department reported in late August, although companies listed in the Standard & Poor’s 500 index showed only a 2.9-percent decline in earnings per share, data service Refinitiv said.