August 2024 Economic Advisor

The August 2024 NFFS Economic Advisor is now available! Please note that you must log in to your NFFS account to see this members-only publication.

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In this issue:

• A Closer Look: The U.S. Economy: An Objective Look at the Consumer: "The stock market dip in late July and early August unleashed pessimism, resurrecting concerns about a recession. The market was rumbling about the U.S. consumer – with pandemic-era savings spent and cumulative inflation cutting into purchasing power, can consumers keep spending at record levels? While the market dip quickly reversed course, illustrating the perils of overreacting to daily stock market movements, just how strong consumers are remains in question...."
  
• Macroeconomic Outlook: "The economy is in a liminal period: not doom and gloom, but not overtly positive. On the one hand, consumer prices are softening, most key leading economic indicators are generally rising, and consumers continue to spend more (both in dollars and volume). However, the industrial sector is tepid, general rise in leading indicators has been very mild, and nascent signs of weakness in the housing market are popping up...."
• Leading Indicator Snapshot: "We continue to expect upward macroeconomic momentum in 2025, as most leading indicators are pointing upward for this period. A few others, however, are sending mixed messages on the trajectory of the macroeconomy for later that year...."
• Manufacturing Industry Analysis: "Annual U.S. Total Manufacturing Production in July was 0.3% below the year-ago level and is in a tentative recovery trend..." 
• Readers Forum: "Is the housing market taking a turn in favor of buyers after the past few years of unaffordability and tight supply?"

The NFFS Economic Advisor provides economic data that is sourced and compiled on a monthly basis by ITR Economics for members of NFFS. It provides leading indicator trend data and relevant economic news to assist foundries with their internal economic analyses and business planning.

For more helpful economic resources and expert insights from ITR Economics, visit the NFFS Economic Portal.