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ARTICLE · 03 JUNE 2024

Ankura Monthly Economic Indicators Overview [May 2024]

Ankura Consulting Group LLC
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Consumer debt continues to climb. Total household debt rose by $184 billion to reach $17.69 trillion; mortgage balances increased by $190 billion to $12.44 trillion...

United StatesConsumer Protection
Keith Jelinek
Keith Jelinek
Rick Maicki
Rick Maicki
Tom Clarke
Tom Clarke
Frank Jones
Frank Jones

Consumer debt continues to climb. Total household debt rose by $184 billion to reach $17.69 trillion; mortgage balances increased by $190 billion to $12.44 trillion, while balances on auto loans climbed $9 billion to $1.62 trillion. Consumer sentiment plunged about 13% in May, following a period of relative stability for the past three months; the steep decline of 10 index points marks a statistically significant drop and brings sentiment to its lowest level in six months.

April retail sales increased by 3.5% and most key retail segments experienced year-over-year (YOY) sales. The major segments with increases were non-store (online) retailers and food services and dining establishments.

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