American consumers’ spirits are very strong. The University of Michigan Consumer Sentiment Index rose 4.5 points in January to reach 98.1, the highest level since January 2004. Clearly, consumers feel increasingly confident about their economic prospects. This is good news since a more confident consumer is likely to spend more on big-ticket and discretionary items. […]
Beth Ann Bovino
Beth Ann Bovino is the U.S. Deputy Chief Economist at Standard & Poor’s Ratings Services, based in New York. In this position, she develops S&P’s U.S. economic forecasts and authors the monthly U.S. Economic Forecast, the quarterly U.S. Risks To The Forecast, the weekly Financial Notes and the Weekly Economics Call. Beth Ann has created Industry Drivers reports for analyst research. She is quoted regularly in the press and has appeared on many major television programs. Further, she has written many articles for popular and professional publications.
Before joining Standard & Poor’s in February 2004, Beth Ann spent over ten years doing economic and market research with Sungard Institutional Brokerage, UBS Warburg, and the Federal Reserve.Beth Ann holds a bachelor’s degree in Economics from the Wharton School at the University of Pennsylvania, a master's degree in International and Development Economics from Yale University and a Ph.D. in Economics from Columbia University.
Author Archives: Beth Ann Bovino
Last week’s 321,000 payroll jobs gain continues a positive trend, as we have seen additions of 200,000 or more jobs for 10 straight months. The report gives the Fed what it needs to continue down the path of potentially raising the Federal funds rate in the middle of next year, the first such hike in […]
The Bureau of Labor Statistics (BLS) reported that October was yet another month of solid job gains. Nonfarm payrolls rose 214,000, and the unemployment rate fell to 5.8% from 5.9% the previous month. Although it was great to see more folks coming back to the labor force and even more getting employed, the missing wage […]
Home sales are moving in the right direction with the help of low mortgage rates and an improving jobs market. Housing starts and permits have rebounded to 1 million plus, with multi-family structures leading the way. As home prices continue to rise at a slower pace and as credit begins to flow more freely to […]
Although the sizable jump in U.S. GDP growth in the second quarter helped allay Wall Street worries, Main Street is still jittery. According to the August WSJ/NBC Poll, 71% of American adults think the country is on the wrong track (up from 63% in June) and that the economic problems facing the U.S. are mostly […]
Productivity rose 2.5% in the second quarter, consistent with a soundly growing economy but not reflective of the very strong GDP growth that characterized the second quarter. On a year-over-year basis, productivity is up 1.2%, consistent with only lukewarm economic growth. Manufacturing productivity growth was solid, while service-sector productivity growth was not so. Unit labor […]
The great leveraging of America began in the mid-1980s with the wider use of credit cards and the introduction of home equity lines of credit. By 2000, household debt had grown to more than 90% of disposable personal income, and by the end of 2007, it had peaked at 135%. During the financial crisis and […]