Seeing Signs of Stress in US Consumer: DiMartino-Booth

The video discusses the current economic climate, focusing on inflation, consumer spending, and the labor market. It highlights a slowdown in discretionary spending, a decline in auto financing applications, and rising consumer stress due to higher oil prices. The labor market shows signs of strain with downward revisions in non-farm payrolls and increased underemployment. The video also notes a significant bankruptcy cycle, indicating broader economic challenges.

What was the observed trend in consumer spending according to credit card data?

• Increase in essential spending

• Stable spending patterns

• Pronounced slowdown in spending

• Increase in discretionary spending

How are households reacting to the rise in oil prices?

• Increasing their savings

• Ignoring the price changes

• Substituting one expense for another

• Spending more on luxury items

What is the most visible economic indicator to US households?

• Interest rates

• Gas prices

• Stock market trends

• Housing market

What trend has been observed in non-farm payrolls throughout 2023?

• No significant changes

• Downward revisions

• Stable numbers

• Upward revisions

What is a consequence of the current bankruptcy cycle?

• Increase in company expansions

• Reduction in headcounts

• Stable employment rates

• Rise in new business startups