All eyes obsessed with the “big” debt of the United States forget the “small”, the 17.047 billion of indebtedness of American households at the end of March. Around 15% of this outstanding is showing the first signs of financial stress.
The rise in payment arrears of more than three months in credit cards (8.2% of a total of 986 billion) and car loans (3.9% of 1,562 billion) echoes the disappointing results of Home Depot and of Target because of a more watchful consumer in the face of inflation. Target estimates that the “mowing” in stores is experiencing an unprecedented acceleration that will cost it $500 million this year.
The good performance of employment and the balance of surplus savings from the pandemic, estimated at 500 billion by eToro, are strong supports for consumption. For how long ?
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2023-05-21 07:04:46
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