Loading...

Report: State of the Economy, June 2024

Published: June 20, 2024 by Josee Farmer

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 June meeting, the Federal Reserve continued to hold rates steady and released an updated Summary of Economic Projections. In this update, the committee reduced 2024 rate cut projections from three to one and increased their year-end inflation expectations. Both of these updates were likely driven by a lack of downward progress in inflation in Q1. But as the Federal Reserve extends the period of restrictive rates, it places more weight on each monthly economic data release to inform the Fed’s next move.

Data highlights from this month’s report include:

  • Job creation exceeded economists’ expectations with 272,000 jobs added in May.
  • Inflation cooled in May, with annual headline inflation down from 3.4% to 3.3% and annual core inflation down from 3.6% to 3.4%.
  • Auto loan amounts decreased in Q1 as inventories continue to stabilize.

Check out our report for a deep dive into the rest of this month’s data, including the latest trends in delinquencies, spending, and the new housing market.

Download June’s report 

To have a holistic view of our current environment, it’s important to view the economy from different angles and through different lenses. Watch our experts discuss the latest economic and credit trends in the recording of our latest macroeconomic forecasting webinar and listen to our latest Econ to Action podcast.

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

Related Posts

This series will explore our monthly State of the Economy report, which provides a snapshot of the top monthly economic and...

Published: October 23, 2024 by Josee Farmer

Check out September's report for a deep dive into the latest market trends, including those around job creation and retail sales.

Published: September 26, 2024 by Josee Farmer

Check out August's report for a deep dive into the latest market trends, including those around originations and the new housing market.

Published: August 27, 2024 by Josee Farmer

Subscribe to our 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 our Experian Insights blog

Don't miss out on the latest industry trends and insights!
Subscribe