U.S. Outlook: The U.S. consumer is doing just fine

Posted By Scott Anderson In Economic Outlook | No Comments

There was much concern earlier this week after the National Retail Federation’s estimate of an 11% drop in Thanksgiving weekend sales.

Graph showing recent rise in vehicle sales. [1]But we’re not buying the idea that recent good news about the consumer is coming to an end.

Below are highlights of my weekly economic analysis, followed by a link to the full U.S. Outlook report, delivered on Dec. 5.

Key observations:
  • Consumer spending still looks strong despite gloomy Black Friday estimates.
  • The National Retail Foundation data doesn’t come from actual sales receipts.
  • ComScore reported Cyber Monday sales were up 17% compared to last year.
  • U.S. vehicle sales rose more than expected in November.

 

Click here to read my full report. [2]


Article printed from Bank of the West: https://blog.bankofthewest.com

URL to article: https://blog.bankofthewest.com/2014/12/05/u-s-outlook-u-s-consumer-just-fine/

URLs in this post:

[1] Image: https://blog.bankofthewest.com/wp-content/uploads/2014/12/chart_vehiclesales_120514.jpg

[2] Click here to read my full report.: https://blog.bankofthewest.com/wp-content/uploads/2014/12/BankoftheWest_USOutlook_12_05_14.pdf

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