This Week: Consumer borrowing, Disney earns, consumer prices
Nov 7, 2022, 6:10 AM | Updated: 7:12 am
A look at some of the key business events and economic indicators upcoming this week:
JUST CHARGE IT
Americans have been ramping up their use of credit this year.
U.S. consumer borrowing, excluding mortgages and other loans secured by real estate, jumped by $32.2 billion in August from the previous month. The August increase pushed total consumer credit to around $4.68 trillion. Economists expect consumer borrowing rose by $26.5 billion in September. The Federal Reserve releases its latest monthly consumer borrowing data Monday.
Consumer borrowing, monthly change, seasonally adjusted, billions of dollars:
April 31.3
May 26.9
June 39.7
July 26.1
Aug. 32.2
Sept. (est.) 26.5
Source: FactSet
MOUSE HOUSE
Wall Street expects The Walt Disney Co. closed out its last fiscal year with another solid quarter.
Analysts predict the entertainment giant will report Tuesday that its earnings and revenue for the July-September quarter increased from the same period last year. That would follow improved results in the previous three quarters. Investors will be focused on how many subscribers Disney added to its video streaming services, including Disney+ and Hulu. In August, the company announced new price tiers for Disney+ due to take effect in December.
EYE ON INFLATION
The Labor Department delivers its October snapshot of inflation at the consumer level Thursday.
Americans continue to face higher costs, reflected in a run of sharp annual increases in the consumer price index since summer last year. Prices for U.S. consumers jumped 8.2% in September from a year earlier. Core consumer prices, which exclude volatile food and energy costs, have also kept rising sharply, a signal that the Federal Reserve’s multiple rate hikes have yet to ease inflation pressures.
Consumer price index, annual percent change, not seasonally adjusted:
May 8.6
June 9.1
July 8.5
Aug. 8.3
Sept. 8.2
Oct. (est.) 8.0
Source: FactSet
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
