Consumers Hold Onto Their Savings, Much Needed Relief for Seniors, What Clients Look For in a Financial Advisor
October 21, 2022 | FIRESIDE CHARTS
Consumer savings, which increased substantially during the pandemic, has remained near record levels. Social security payments are set to rise 8.7% providing much-needed relief to seniors. Key drivers of inflation are pointing lower, but it may take time to see this reflected in the headline inflation numbers. Companies may be reaching the limits of their pricing power. Manufacturing employment in the U.S. is at a 14-year high. What do current and future clients look for from their financial advisor?
1. Credit card debt has risen but it seems like consumers are reluctant to tap their savings directly:
Source: @TheTranscript_
2. Social security payments will begin to reflect the increased costs that seniors have faced over the past two years:
Source: @business Read full article
3. The commodity subgroups, excluding energy, that drove inflation last year are continuing their downward trend:
Source: FRED, Federal Reserve Bank of St. Louis
4. Housing inflation will keep Core CPI elevated over the next year, but it is a lagging component that largely reflects price increases that took place last year:
Source: @IanShepherdson https://twitter.com/IanShepherdson/status/1580983235362062337
5. Vehicle prices have remained remarkably strong, but that may start to change:
Source: Daily Shot 10/19/2022
6. Businesses have pushed prices to maintain or even increase margins but they are growing weary of further price increases:
Source: Evercore ISI Research
7. U.S. manufacturing output peaked in 2008, hopefully that level of output will be exceeded soon:
Source: @chartrdaily
8. Returns matter but consumers primary concerns are planning and education:
Source: MagnifyMoney Read full article
Disclosure: The charts and infographics contained in this blog are typically based on data obtained from 3rd parties and are believed to be accurate. The commentary included is the opinion of the author and subject to change at any time. Any reference to specific securities or investments are for illustrative purposes only and are not intended as investment advice nor are they a recommendation to take any action. Individual securities mentioned may be held in client accounts. Past performance is no guarantee of future results.