The Economic Data calendar for the week of the 16th of June through the 20th of June is full of critical releases and events. Attached below is a snapshot of some of the headline numbers that we will be focused on.
Takeaway: 55% voted YES; 45% voted NO.
In today’s Morning Newsletter, U.S. macro analyst Christian Drake pointed out that the spike in credit card debt in April occurred alongside very weak consumer spending and housing data – weakness that extended into May. “Tapping credit to purchase everyday essentials because cost inflation is running at multiples of income growth,” he wrote, “is not reflective of a resurgent consumer driving an accelerating, sustainable consumption recovery.”
It is important to note that this is only one preliminary data point that is volatile and subject to significant revision, we should have a better sense of the legitimacy of it when the card companies report May data next week.
We wanted to know what you think. Today’s poll asked: Are U.S. consumers maxed out?
At the time of this post, 55% voted YES; 45% voted NO.
Voters who believe YES, U.S. consumers are maxed out, had this to say:
Those who voted NO reasoned:
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Takeaway: The U.S. consumer is feeling the squeeze of rising inflation, a weak dollar, and ripping oil prices.
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