In economics, there are lead indicators and lag indicators. But often, the coincident indicators–stats that show the current state of the U.S. economy–tell the best stories.
The Conference Board reports that a record-high number of U.S. consumers are preparing to vacation to a foreign country within the next six months. That’s an all-time high for a stat kept since 1967. To my way of thinking, only a strong, confident consumer tends to make such ambitious travel preparations!
Financial headlines have warned about growing consumer credit card balances. You may have also seen concerns that U.S. consumers may not be as resilient in 2024. Since consumer spending is about 70 percent of gross domestic product, you can see why those headlines can be concerning.
If your household is like mine, you tend to save and prepare before taking vacations. They create family memories that just can’t be replaced. I feel encouraged that 22 percent of U.S. consumers are ready to travel abroad. It makes me think that those households have been good stewards of their personal finances in recent years, and they are confident about exploring the world.