Weekly Market Snapshot – November 16th, 2020
Created by: Sam Tenney
- The Consumer Price Index (CPI) was flat for October, registering a net neutral gain compared to September when the index rose 0.2%. This could possibly signal further slowing of the economic rebound, as inflation plays a key role in sustaining early business cycle growth. ¹
- Credit card loans continue to deflate month over month, dropping to $755 billion the last week of October, down from $855 billion in February 2020. Most likely continued financial uncertainty has led many consumers to pay down credit card loans. ²
- The US Budget deficit has grown more then 100% year over year, with October 2020 reporting a $284 billion budget deficit compared to just a $134 billion deficit in October 2019. This is a combination of increased government spending to combat Covid-19, as well as a decrease in tax revenues from Covid-19 related stay at home orders. ³
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