Financial predictions for 2017
December 15, 2016
What’s going to happen financially in 2017?
WalletHub, a financial website, released its “10 Financial Predictions for 2017” report Tuesday to help consumers get information on next year’s economy.
Below are some of Wallethub’s predictions, which are based in part on conversations with a panel of economics and finance specialists:
- U.S. GDP growth will remain anemic, at 2.1 percent.
- Unemployment won’t go far, finishing around 5 percent.
- The S&P 500 won’t do much better than an online savings account.
- U.S. auto sales will surpass 17 million for the third straight year.
- Existing home sales will rise to 6 million, despite higher rates.
- The Fed will raise rates twice, bringing its target to 1.125 percent.
- Credit card debt will break all-time records, topping $1 trillion owed.
- Consumer credit scores will peak at 675 in 2017.
- The Consumer Financial Protection Bureau won’t die.
- Charge-offs will top $30 billion, limiting credit availability.
Well, that doesn’t seem too bad. Maybe the havoc Donald Trump is going to foist on America won’t begin until 2018, or perhaps he’ll be impeached by then.
Copyright 2016, Rita R. Robison, Consumer Specialist
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