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At 4.9%, third quarter GDP growth is even hotter than feared

Consumer showing signs of stress in August

Inflation-adjusted consumer spending rose 0.1% last month. The report from the Bureau of Economic Analysis showed inflation-adjusted spending on services rose 0.2%, helped by a pickup in outlays on transportation and recreation. Spending on merchandise fell 0.2%, the...
Consumer credit showing signs of stress

Consumer credit showing signs of stress

The typical pattern is for households to run up credit card balances for holiday shopping and then for consumers to pay down credit card balances in the first quarter. That’s what happens in a healthy economy where consumers are living within their means and...
At 4.9%, third quarter GDP growth is even hotter than feared

The consumer credit crunch rolls on

Capital One Financial (COF), the third-largest U.S. credit card lender, is cutting borrowing limits on it credit cards. The company has said it’s no big deal, telling Bloomberg that “Capital One periodically reviews accounts based on a variety of factors and may...
U.S. stocks rally on good economic news and end of the quarter window dressing

What me worry?

Am I the only one who finds Friday’s GDP report of 1.2% annualized growth worrying? Especially when combined with a drop in consumer sentiment? What’s bothering me? The deeply disappointing second quarter GDP number was only as good as it was because...