Tag Archives: US household consumption

Household formation trends mean the housing sector is unlikely to make a meaningful contribution to US GDP.The recently released Census Bureau’s Annual Social and Economic Supplement (ASEC) brought sobering news for the US housing market: new household formation slowed significantly, to 405,000 in 2016, the lowest level since 2009 (+357,000), compared with 1,232,000 in 2015. In other terms, the number of households grew only 0.3% last year, compared with +1.0% in 2015.In general, household...

3Q GDP growth was flattered by a temporary surge in soybean exports, while consumer spending was disappointing. However, our 2016 and 2017 growth forecasts remain unchanged.On the back of a temporary surge in exports, real US GDP grew by a strong 2.9% in Q3, above consensus expectations. Our yearly average forecasts that US GDP will grow by 1.5% in 2016 and 2.0% in 2017 remain unchanged. The robust rate of expansion in Q3 needs to put in proper context. First, it is partly linked to a...

Macroview Latest data suggest spending growth could top 3% this quarter and remain buoyant for rest of the year Read full report here As widely expected, US consumer spending data for April were quite strong. The data, released on 31 May, showed that real personal consumption rose by a strong 0.6% month-on-month, slightly above consensus estimates (+0.5%). Data on April retail sales, car sales and output of utilities already published had been quite upbeat, suggesting a solid reading...