Consumer
March 17, 2025
U.S. Retail Sales (February 2025)
Retail and food services sales rose just 0.2% month-on-month (m/m), disappointing expectations for a stronger rebound following January's contraction. Data revisions also expanded January's contraction to -1.2% m/m from the initially reported 0.9% decline.
March 13, 2025
In Wealth We Trust: U.S. Household Balance Sheet Update
The new administration in the White House has brought a cloud of uncertainty, but if there’s one factor that would help U.S. households sleep better at night and spend more confidently, it’s their wealth cushion. Policy uncertainty has led to a correction in equity markets recently, with the S&P 500 erasing all its gains since the fall. However, the recent decline should still leave households with a sizeable wealth cushion.
December 09, 2024
Higher Rates Delay U.S. Housing Recovery, But Some Improvement Expected in 2025
After declining through the spring and summer, 30-year mortgage rates rebounded back near 7% this autumn on the back of rising bond yields. Strong economic data and policy-related uncertainty – notably around the new administration’s use of import tariffs – have been key catalysts behind this rate backup. As such, further upward pressure on rates in the near term can’t be ruled out.
October 17, 2024
Can’t Hold Me Down: U.S. Consumer Spending To See an Upgrade
The Bureau of Economic Analysis recently made annual benchmark revisions to its National Income & Product Accounts, which showed a stronger pace of economic and income growth in recent years, with a notable upgrade to personal income in H1-2024.
