Report: State of the Economy, April 2024

by Josee Farmer 2 min read May 1, 2024

This series will dive into our monthly State of the Economy report, providing a snapshot of the top monthly economic and credit data for those in financial services to proactively shape their business strategies.

During their March meeting, the Federal Reserve announced no change in the federal funds rate and released their updated Summary of Economic Projects for the remainder of 2024 and 2025. In response to slow but steady cooling inflation, they maintained projections for three rate cuts by the end of 2024. Additionally, they upgraded their growth projections and lowered their unemployment projections, signaling more optimism toward the U.S. economic trajectory. In this month’s report, we dive into the data developments that are contributing to this economic story.

Data highlights from this month’s report include:

  • The Federal Reserve held rates steady and maintained projections for three rate cuts by the end of the year.
  • Inflation progress slowed, with annual headline inflation flat and annual core inflation ticking up from 3.2% to 3.5%.
  • The median rent-to-income ratio increased 4.1% year-over-year to 37.9% nationally.

Check out our report for a deep dive into the rest of April’s data, including the latest trends in income, originations, and job creation.

To have a holistic view of our current environment, we must understand our economic past, present, and future. Check out our annual chartbook for a comprehensive view of the past year and register for our upcoming macroeconomic forecasting webinar for a look at the year ahead.

Download April’s State of the Economy report  Register for webinar

For more economic trends and market insights, visit Experian Edge.

Related Posts

The American Fintech Council on Responsible Innovation

Ian P. Moloney of the American Fintech Council discusses responsible fintech innovation and Experian’s role in expanding credit access.

Published: July 8, 2026 by Scarlet.Nickel@experian.com
Electric Vehicle Registrations Are Growing Beyond Traditional Locations

For years, most electric vehicle (EV) adoption has been concentrated in California, New York, and other traditional early-adopter markets. And while those markets still lead the nation in total registrations, as of last year, some of the fastest-growing EV markets are in regions that haven’t played a significant role in the past. According to Experian Automotive’s 2025 EV Year in Review Report, EV adoptions seem to be entering a new phase that is spreading well beyond coastal strongholds. In fact, the top designated market areas (DMAs) that saw the fastest year-over-year growth for new retail individual EV registrations in the last five years were Detroit, MI (34.5%), Naples, FL (32.6%), Atlanta, GA (20.6%), Buffalo, NY (18.7%), and Charlotte, NC (17.3%). However, despite the growing demand in these market areas over the last few years, Los Angeles, CA still holds a strong lead in new retail individual EV registrations, with over 164,000 new adopters in 2025. Rounding out the top five were San Francisco, CA (85,000+), New York, NY (78,000+), Miami, FL (45,000+), and Seattle, WA (35,000+). EV adoption expanding well beyond the early-adopter markets could be a result of charging infrastructure growth, vehicle availability improvement, and consumer interest reaching new levels across the country. What does this mean for dealers? The extension of EV adoption into emerging markets signals that these vehicles are becoming a mainstream consideration for more consumers. As dealers look for ways to grow their presence in this segment, adopting marketing strategies, service operations, and inventory planning will be beneficial to meet changing buyer expectations and capitalize on the growing demand. The biggest takeaway isn’t necessarily which markets are selling the most EVs, it’s seemingly where adoption is gaining momentum. As new regions start to embrace these vehicles, it’ll be important to monitor the next phase of growth and where future opportunities may emerge. To learn more about EV insights, visit Experian Automotive’s EV Resource Center.

Published: July 7, 2026 by Kirsten Von Busch
PREMIER Bankcard Expands Financial Access

Learn how PREMIER Bankcard and Experian are helping expand financial access through data, technology and personalized decisioning.

Published: July 6, 2026 by Scarlet.Nickel@experian.com

Request More Information

Subscribe to our Housing Blog

Enter your name and email for the latest updates.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Subscribe to the Housing Blog

Receive updates from Experian Housing
Subscribe