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ARTICLE · 29 NOVEMBER 2023

U.S. Economic Overview

Ankura Consulting Group LLC
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U.S. CONSUMERS: Consumer confidence dropped again in November

United StatesStrategy
Keith Jelinek
Keith Jelinek
Rick Maicki
Rick Maicki
Chris Ventry
Chris Ventry
Tom Clarke
Tom Clarke
Laura Wheeler
Laura Wheeler

Highlights – What You Need To Know

U.S. CONSUMERS: Consumer confidence dropped again in November

  • Consumer sentiment for the 4th straight month, falling 5% in November
    • Long-run economic outlook slid 12%, in part due to growing concerns about the negative effects of high interest rates
  • Personal disposable income* rose 7.9% in September 2023; consumer expenditures increased 6.8% and were .7% above the previous month
  • Total Consumer Debt
    • Total household debt increases again Q3-2023 to $17.3 trillion
    • Credit card balances remain high and consumer debt continues to grow – consumers ability to make minimum payments and pay off balances is still a concern
    • Revolving credit debt up nearly 11% vs. 2022

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