recession Archives - Pinnacle Finance

Pinnacle Finance Blog

March 20, 2016

Improving Credit Trends for U.S. Consumers

Good news for dealers looking to grow business by offering financing options to potential buyers – the average FICO credit score, a key component to financing decisions, is at an all-time high in the US. Based on a recent FICO blog there has been significant improvement in FICO scores since the Great Recession. The national average FICO score in April 2015 is at an all-time high of 695, up from a low of 686 in October 2009. The data for those two time periods also indicates that 19.9% of the population has a credit score of 800 or higher, […]

June 4, 2019

Economic Update – May/June 2019

Strong Economic Growth In Q1 But Slowing In Q2…. The most recent estimate for GDP growth in the first quarter of 2019 was quite strong at 3.1%, up from 2.2% in the fourth quarter of 2018. Much of the GDP growth in Q1 was from a buildup of inventories and net export of goods. Many have speculated that the buildup of inventories was related to the prospect of the tariff increases that have made headlines in the past several months. If that was the case then a reduction of inventory should have a negative impact on growth in future quarters. […]