October 13, 2023
Consumer Sentiment Study Sees Jump in Inflation One Year Out
Consumers don’t think the pressures on the household budgets are going to abate anytime soon. And certainly not in the next year. The University of Michigan’s latest reading of consumer...
October 13, 2023
Citi: Spending Decelerates as Consumers Grow More Cautious
Consumer spending is still growing but slowing, especially among those with lower FICO scores, Citi reported Friday (Oct. 13). “The growth in spending is decelerating and the consumer is more...
October 13, 2023
JPMorgan Chase Card Spending Grows 8% as Consumers Draw Down...
Banking juggernaut J.P. Morgan Chase reported earnings on Friday (Oct. 13) that showed resilient card spending, but a drawdown of deposits and a gradual uptick in charge-offs. Earnings supplementals show that...
October 08, 2023
Rise of ‘Mega Bankruptcies’ Leaves Economists Worried
SVB Financial. Yellow. Bed Bath & Beyond. All big companies, all filed for bankruptcy. And as The Wall Street Journal (WSJ) reported Sunday (Oct. 8), it’s part of a jump in Chapter 11...
October 05, 2023
Unemployment Claims Remain Low as Wage Growth Slides
Initial jobless claims remained low last week, according to new Labor Department data. Government figures released Thursday (Oct. 5) showed initial claims inching up to 207,000 for the week ending Sept. 30, below the...
October 02, 2023
Car Sales Climb as Drivers Finally Retire Older Vehicles
American consumers may not want new cars, but they apparently need them. As Bloomberg News reported Monday (Oct. 2), car buyers are visiting dealerships “out of sheer necessity,” replacing vehicles that are...
October 01, 2023
Consumer Strength Challenged as Spending Drops
Times are tough for the American consumer, even without new student loan payments. A report Saturday (Sept. 30) by Bloomberg News catalogs the various ills: High gas prices cutting into spending. Delinquent...
September 27, 2023
JPMorgan Picked to Verify Payment Information for Federal Government
J.P. Morgan has been chosen by the United States Treasury Department to provide account validation services for federal government agencies. This selection comes after a competitive process and will last for at least...
September 21, 2023
Jobless Claims in US Hit Lowest Level Since January
Initial claims for unemployment insurance in the United States fell by 20,000, down to 201,000, during the week ended Saturday (Sept. 16). The four-week moving average dropped by 7,750, to...
