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Pent up savings keeping consumer afloat for now but warning signs building - Scotia
Scotia today is out with a pair of charts that indicate what's happening and what could be coming.They note that deposits held in US bank accounts are roughly US$2T above what the pre-pandemic trend would suggest.When that runs out and how consumers behave afterwards will be critical for the US economy. Estimates for when the excess runs out range from mid-year to year-end.The second chart is a swift decline in hiring intentions for small businesses and how that's historically been a good predic...
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Posted: May 3 2023, 13:25
Author Name: forexlive
Views: 110788