“ABA’s latest Credit Conditions Index provides further evidence that lenders are adjusting to economic conditions and preparing for increased financial stress among consumers and businesses this year,” said ABA Chief Economist Sayee Srinivasan.
The spread generally tightens when mortgage originations decline as they did last year.
While the unemployment rate edged down to 3.5% in December, survey data from Alignable shows small business stresses are starting to emerge.
PNC’s Christmas Price Index, which tracks the cost of a full set of every gift in “The Twelve Days of Christmas,” reached $45,523 in 2022, rising 10.5% compared to 2021.
Median weekly earnings growth was strong across the board in Q3 2022, but particularly for those with less than a high school diploma.
The November jobs numbers came in above market expectations, which forecast an increase of about 200K for the month.
Compared to the experience of the 2008–09 Great Recession and ensuing recovery, the COVID-19 pandemic-induced recession, along with federal and state responses, resulted in unexpected consumer behavior.
The typical cost for a Thanksgiving dinner increased more than 18% over the past year, according to survey data from the American Farm Bureau Federation, from $68.72 in 2021 to $81.30 this year.
As drought rages in the Midwest and Mississippi River water levels drop to their lowest point since the 1980s, barge traffic has been constrained, resulting in skyrocketing prices.
Regulatory capital, together with other risk metrics, is a better assessment than tangible-based capital measures when assessing bank conditions.