US Consumers Increase Spending at Strongest Rate Since 2011

Strengthening wealth effect and household net worth and rising employment are leading to a recovery in spending and consequently a willingness/ability to use credit cards. As Prime Executions has stated “Stronger usage of revolving credit could be an important driver of further economic growth, as consumers have mostly shunned revolving credit for the last several years”. There is no mistaking the trend in consumer revolving credit aka credit card usage in the following chart. Don’t get confused by the talking heads – the US economy is picking up steam . . . and that is a good thing for high beta stocks like the ones Aberdeen owns.  Jeb B Terry, Sr. June 15, 2014

US Consumer revolving credit 6-13-14

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