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What We Are Following in the News
We know it is weird, but we are still getting new 2024Q4 data. More than 11% of Americans were only making minimum credit card payments. This is the highest point since tracking began in 2012. buff.ly/oDzg6B3
As consumer demand continues to drop UPS has announced it is closing 70 some facilities and laying off 20,000 workers. www.seattletimes.com/business/ups-plans-20000-job-cuts-this-year-in-pullback-from-amazon/?utm_sou...
On Wednesday, the US government’s initial estimate of first-quarter gross domestic product is projected to show the economy expanded at a 0.4% annualized rate, the weakest in nearly three years.
President Donald Trump’s China tariffs are set to unleash a supply shock on the US economy, piling pressure on Americans. The impacts on the Seattle region are already appearing at the Port of Seattle. buff.ly/svtqk7W
The rental vacancy rate of 7.1 percent was higher than the rate in the first quarter 2024 (6.6 percent). Compared to the first quarter 2024, the rental vacancy rate was higher in the Northeast and West and not statistically different in the Midwest and South.
The homeownership rate of 65.1 percent was not statistically different from the rate in the first quarter 2024 (65.6 percent). Compared to the first quarter 2024, the homeownership rate was lower in the Northeast and not statistically different in the Midwest, South, and West.
Thoughts on the Latest Economic News