DBRS: U.S. Household Spending Growth Fueled by Income Growth, Not Dwindling Savings
DBRS, Inc. (DBRS) published a commentary titled “DBRS: U.S. Household Spending Growth Fueled by Income Growth, Not Dwindling Savings.”U.S. households have more income than was previously estimated. This is good news for the general financial position of households, supporting DBRS’s generally positive view of the overall financial health of U.S. households. The new income estimates from the U.S. government also imply a higher savings rate for recent years. So, instead of household debt growing faster than disposable income, the two are more in line. This reduces concerns that U.S. households were beginning to spend beyond their means. Given these revisions, U.S. households are more likely to be able to sustain their current pace of spending and debt growth.
DBRS Morningstar is a global credit ratings business with 700 employees in eight offices globally. DBRS and Morningstar Credit Ratings are committed to empowering investor success, serving the market through leading-edge technology and raising the bar for the industry.
Together, we are the world’s fourth largest credit ratings agency and a market leader in Canada, the U.S. and Europe in multiple asset classes. We rate more than 2,600 issuers and 54,000 securities worldwide and are driven to bring more clarity, diversity and responsiveness to the ratings process. Our approach and size provide the agility to respond to customers’ needs, while being large enough to provide the necessary expertise and resources. For more details visit us at dbrs.com.
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