ALEXANDRIA, Va.–NCUA has released its latest Economic Update video.
The agency said the video comes in the wake of financial turmoil and increased economic uncertainty following the United Kingdom’s decision to leave the European Union in June, while other underlying economic trends—mostly favorable—reasserted themselves in the U.S.
The latest video in the agency’s Economic Update YouTube series is available here.
“Steady improvement in labor market conditions is boosting household income and appears to be starting to lift wages,” said NCUA Chief Economist Ralph Monaco. “Improvements in stock prices and rising home prices are lifting household wealth, and consumer optimism is relatively high.”
Although the national outlook appears positive, Monaco warns that credit unions with ties to some areas of the country and some industries that are underperforming may face challenges.