Is the US Economy in a Credit Crunch?
With continuous inflation and record interest rate hikes, the second half of 2023 comes with new worries. Consumer debt delinquencies have risen to 0.25% in May, up from 0.16% last year. Meanwhile, public companies are experiencing much slower growth and have even seen an increase in bankruptcies. The good news is gasoline prices fell to an average of $3.55 per gallon just in time for the July 4th holiday, down more than a dollar from the same time last year. Ultimately, predicting the US economy lately has been challenging, with unexpected anomalies disrupting the norm. If you would like to read more, go to https://www.cnn.com/2023/07/03/investing/premarket-stocks-trading/index.html. If you run a business, proper cashflow planning is becoming more important in this unpredictable trend of our economy. Need to speak to an expert? Call us at 832-295-3353. We would love to hear from you.