NEW YORK--(BUSINESS WIRE)--Link to Fitch Ratings' Report: U.S. ABS Chart of the Month
https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=870463
Steady labor market improvement and even lower fuel prices are leading to a surge of sorts in both consumer confidence and retail sales, according to Fitch Ratings in its latest U.S. ABS chart of the month.
After sputtering below the 100 mark in recent months as optimism about the economy fell, consumer confidence topped 100 for the first time since January, reaching 101.5. Retail sales, meanwhile, rose in step, gaining 0.6% from June and 2.4% year over year.
'Recent equity market turbulence could test consumer confidence as the second half of the year wears on, although the impact should be limited from a consumer ABS ratings standpoint,' said Managing Director Michael Dean. 'This improvement on both fronts will continue to benefit credit card ABS, with chargeoffs and delinquencies likely to remain at or near record lows in the coming months.'
Fitch's U.S. ABS Chart of the Month offers succinct perspective of high level macroeconomic trends and how they impact the world of ABS. The chart is available at 'www.fitchratings.com' or by clicking on the above link.
Additional information is available at www.fitchratings.com.
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