NEW YORK–(BUSINESS WIRE)–Link to Fitch Ratings’ Report: U.S. ABS Chart of the Month
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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