All Posts Tagged: personal savings

U.S. Outlook: Consumers are on a roll

Scott Anderson
Chief Economist

Consumers are on a roll. But how long can it last? Consumer spending has been robust. Growth in nominal retail sales, including food services from a year ago, was 6.6% in August and has exceeded 6.0% over the last four months. Crowds of shoppers walking in a mall, focusing on their walking legs.

This is a clear sign of household strength and resilience at this stage of the expansion.

For more on this, see highlights of my report below, followed by a link to the full U.S. Outlook, delivered on September 14.

Key observations:

  • Annual growth in 2018 has averaged 6.1% through August compared to 4.1% over the same period in 2017.
  • Consumer confidence rose to an expansion high of 133.4 in August.
  • The fastest growing categories of retail spending have been gas stations (+20.3%), nonstore retailers (+10.4%), and restaurant and bars (+10.1%).
  • While personal savings rates still remain healthy, without faster real income growth to support it, consumer spending will inevitably slow.

Read my full report.

Read More ›

Tackling household debt

Beth Hale
Posted by Beth Hale
Consumer Banking
Young, biracial couple looking into a store window, smiling and holding several shopping bags.

It is important to know what type of debt you have and how you can tackle it, especially if you find yourself struggling to manage it.

Read More ›

Financial well-being checklist for the new graduate

Beth Hale
Posted by Beth Hale
Consumer Banking
Row of college graduates outside, dressed in their black caps & gowns.

There is nothing more worrisome than trying to figure out how to pay off college debt.

Read More ›

Millennials & investing: Getting started

Beth Hale
Posted by Beth Hale
Consumer Banking
Young professional man and woman looking at open laptop computer and discussing.

I know the concept of investing can be a little intimidating due to many options and risks, but here are three tips I often share on the basics of investing.

Read More ›

U.S. Outlook: The curious case of missing retail sales

Scott Anderson
Chief Economist
Graph showing recent declines in retail sales.

Looked at in a vacuum, the recent declines in retail sales could herald an impending recession, but that’s not our forecast.

Read More ›