Sunday , November 24 2024
Home / Mosler Economics / Wholesale sales, Household debt

Wholesale sales, Household debt

Summary:
Unadjusted sales rate of growth decelerated 0.9 % month-over-month. unadjusted sales year-over-year growth is down 0.6 % year-over-year unadjusted sales (but inflation adjusted) down 1.2 % year-over-year the 3 month rolling average of unadjusted sales decelerated 0.4 % month-over-month, and down 1,9 % year-over-year. Very modest household credit expansion coincided with very weak growth for the last several quarters: From the NY Fed: Household Debt Balances Increase Slightly, Boosted By Growth In Auto Loan And Credit Card Balances The Federal Reserve Bank of New York’s Center for Microeconomic Data today issued its Quarterly Report on Household Debt and Credit, which reported that household debt increased by billion (a 0.3 percent increase) to .29 trillion during the second quarter of 2016. This moderate growth was driven by increases in auto loan and credit card debt, which increased by billion and billion respectively. Mortgage debt declined by billion in the second quarter, after a 0 billion increase in the first quarter, and student loan balances were roughly flat. Meanwhile, this quarter saw improvements in overall delinquency rates and another historical low (over the 18 years of the data sample) in new foreclosures. … Read more at http://www.calculatedriskblog.com/#le2jQT0ugvGRLrDT.

Topics:
WARREN MOSLER considers the following as important:

This could be interesting, too:

John Quiggin writes Trump’s dictatorship is a fait accompli

Peter Radford writes Election: Take Four

Merijn T. Knibbe writes Employment growth in Europe. Stark differences.

Merijn T. Knibbe writes In Greece, gross fixed investment still is at a pre-industrial level.

  • unadjusted sales rate of growth decelerated 0.9 % month-over-month.
  • unadjusted sales year-over-year growth is down 0.6 % year-over-year
  • unadjusted sales (but inflation adjusted) down 1.2 % year-over-year
  • the 3 month rolling average of unadjusted sales decelerated 0.4 % month-over-month, and down 1,9 % year-over-year.
  • Wholesale sales, Household debt

    Very modest household credit expansion coincided with very weak growth for the last several quarters:

    From the NY Fed: Household Debt Balances Increase Slightly, Boosted By Growth In Auto Loan And Credit Card Balances

    The Federal Reserve Bank of New York’s Center for Microeconomic Data today issued its Quarterly Report on Household Debt and Credit, which reported that household debt increased by $35 billion (a 0.3 percent increase) to $12.29 trillion during the second quarter of 2016. This moderate growth was driven by increases in auto loan and credit card debt, which increased by $32 billion and $17 billion respectively. Mortgage debt declined by $7 billion in the second quarter, after a $120 billion increase in the first quarter, and student loan balances were roughly flat. Meanwhile, this quarter saw improvements in overall delinquency rates and another historical low (over the 18 years of the data sample) in new foreclosures. …

    Read more at http://www.calculatedriskblog.com/#le2jQT0ugvGRLrDT.99

    WARREN MOSLER
    Warren Mosler is an American economist and theorist, and one of the leading voices in the field of Modern Monetary Theory (MMT). Presently, Warren resides on St. Croix, in the US Virgin Islands, where he owns and operates Valance Co., Inc.

    Leave a Reply

    Your email address will not be published. Required fields are marked *