Buyers Will Keep Buying

The economic numbers released this week could baffle the brilliant, if you ignored the obvious.  American’s like to spend.  The Producers Price Index (i.e. the cost of producing products) was at it’s highest ever level of 8.6%, which will continue pressure the Consumer Price Index (i.e. the cost of what we buy), which hit it’s highest since 1990 up 6.2%.

Consumer Sentiment, which emphasizes individual household finances took a nose dive to a 10 year low as workers quit jobs in record numbers.  Yet, consumer confidence which emphasizes employment and labor market conditions rose to it’s highest level since July.  Wait what?  Sentiment dropped, people quit, confidence rose.  Yep.. that happened.  Wages are up 5% nationwide, 5.74% in Colorado, 12% for hospitality, 8% for transportation and warehousing.  People who want to work are finding higher paying jobs and spending what they can.

Retail sales jumped 1.7% in October from September.  Up 16.3% from October 2020 and by a staggering 22% from October 2019 to a record $638 billion.  Bring on holiday shopping!  That is… if you can find it on the shelf… or with a For Sale sign in the yard.

 

[author] [author_image timthumb=’on’]https://www.theruethteam.com/wp-content/uploads/2020/11/testimonial_image.jpg[/author_image] [author_info]Nicole Rueth has been passionately advising clients on their wealth building and home financing strategies for over 17 years. Her path has been non-conventional and it is a benefit to her clients.  www.TheRuethTeam.Com.[/author_info] [/author]