US Consumers Reach Historical Wealth and Employment Highs👍
With the important Thanksgiving and spending holidays just ahead of us, the latest retail data continues to show a US consumer that is doing incredibly well some recent slowing. GS research shows employment, asset wealth, and debt coverage at the 84th, 97th(!!), and 89th percentile levels, respectively. In other words, US consumers are at the wealthiest levels they have ever been, with some of the lowest debt load versus history, with a job market that remains secularly strong while companies are still profitable. It remains difficult to be an equity bear against this backdrop.
#GSResearch #Employment #AssetWealth #DebtCoverage #EquityMarket