In our latest State of the US Consumer report, we discuss how consumption will likely remain a bright spot in 2020 among otherwise slowing drivers of the economy. Also, click here for the inaugural issue of the State of the European Consumer.

In our new publication, State of the European Consumer, we highlight how record employment and positive wage growth will sustain modest consumption growth throughout the European Union over the next six to 12 months. However, prospects of deteriorating global economic conditions are constraining consumer confidence, which is limiting some types of spending.

We have changed our outlook on the US mortgage insurance sector to stable from positive as economic growth slows and profit margins are poised to decline from unsustainably high levels.

Public insurance proposals that Improve affordability and access to care for more households would be positive for US consumption. The fiscal impact on the US sovereign would depend on how these programs are financed and the effectiveness of cost saving measures.