U.S. household budgets were less stressed during the first quarter of 2013, according to a report issued Monday byPNC Financial Services Group Inc. But there may be an increase throughout 2013 as inflation increases and house price appreciation moderates.
The PNC Household Economic Stress Index, designed by the Pittsburgh-based bank's economists, measures the stress inflicted on household budgets by changing macroeconomic conditions including the unemployment rate, inflation and home prices.
"Tracking local economic conditions and how they affect households is just one way that we understand the needs and concerns of our customers and the communities that we serve," PNC Chief Economist Stuart Hoffman said in a statement.
It was the fifth consecutive quarter where stress diminished, due chiefly to stronger house price appreciation. Persistent job growth helped only slightly in the most recent quarter while inflation has changed little since the second quarter of 2012.
Author:Tanya Gorman Phone: 408-316-3512 Dated: April 30th 2013 Views: 908 About Tanya: ...
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