please interpret the consumer credit economic indicator reporthow do you explain these: Consumer Credit - M/M change Prior-17.8 B; Consensus 12.0 B ; Consensus Range 10.0 B to 18.0 B  ...

please interpret the consumer credit economic indicator report

how do you explain these:

Consumer Credit -

M/M change Prior-17.8 B; Consensus 12.0 B ; Consensus Range 10.0 B to 18.0 B

 

Employment Situation-

  Prior Consensus Consensus Range
Nonfarm Payrolls - M/M change 227,000  201,000  180,000  to 239,000 
Unemployment Rate - Level 8.3 % 8.3 % 8.1 % to 8.4 %
Average Hourly Earnings - M/M change 0.1 % 0.2 % 0.1 % to 0.3 %
Av Workweek - All Employees 34.5 hrs 34.5 hrs 34.5 hrs to 34.6 hrs
Private Payrolls - M/M change 233,000  224,000  205,000  to 246,000 

 

Asked on by barbiedot

2 Answers | Add Yours

kplhardison's profile pic

Karen P.L. Hardison | College Teacher | eNotes Employee

Posted on

It seems to me that, since Consensus Nonfarm Payroll and Private Payroll are both lower than these Prior payrolls, the reason Consumer Credit has backed down is that people are feeling the economic pressure of worsening times and are unable to meet their obligations, even though Hourly Earnings have increased one point to mid-range. 

pohnpei397's profile pic

pohnpei397 | College Teacher | (Level 3) Distinguished Educator

Posted on

If I understand your table right (not sure if it formatted properly) this looks like an economy that has been sputtering a bit but may be about to experience an expansion.  The one indicator on here that seems to be a leading indicator (consumer credit) is high while the other indicators are pretty much in the middle ranges.  Therefore, it seems that the economy has been weak but that consumer spending may be about to pick up.

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