As the famous adage goes, never doubt the American consumer.
Throughout the pandemic, the American consumer has shown a willingness to spend but was also able to pay off tremendous amounts of debt thanks to stimulus payments provided by the government. Since the stimulus measures have expired, American consumers have shifted their spending habits back to using credit instead of cash, causing total outstanding revolving credit to surge past pre-pandemic levels.
The jobs market looks strong on the surface, but underlying trends may concern consumers seeking a new job as hiring slows.
FreightWaves’ senior editorial researcher Joe Antoshak and senior analyst Tony Mulvey highlight these macroeconomic trends and try to answer the question “Do consumers maintain momentum through the fourth quarter?” in this week’s edition of the Research Corner.
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