11/12: MetroIntelligence Economic Update by P. DUFFY

Consumer sentiment rises slightly to 95.7 in early November survey

The early November reading on consumer sentiment was nearly identical to last month’s and the average 2019 level (95.6). The strongest aspect of the current economy has been job and wage gains. Although consumers have become somewhat more cautious spenders, they see no reason to engage in the type of retrenchment that causes recessions.



Consumers pulled back on credit card use in September

In September, consumer credit increased at an annual rate of 2.75 percent. Revolving credit – such as credit cards – declined at an annual rate of 1.2 percent, while nonrevolving credit – such as auto loans and student loans — increased at an annual rate of 4.2 percent.



Gallup:  Record-low percentage of U.S. workers concerned about job security

Less than 25% of U.S. workers are concerned about layoffs, technology replacing jobs, employers moving overseas and cuts to their benefits, pay and hours.