Are you updated on the newest financial trends of 2017? Financial trends are subject to change due to a number of political, economic and environmental factors.
Financial Trends and Predictions for 2017
In this new era of stocks and finances, investors will buy high and sell low. In other words, investors will invest more money when stocks go up and they will sell when stocks go down.
Sometimes being successful means diverting from the more common behaviors that most investors seem to make. This also pertains to investments in popular products.
It’s common practice to invest a lot of money in a trending product. Products don’t always remain successful and trendy, but pouring a ton of money into a hot product will usually lead to disappointment.
Financial gurus may have experience in the stock market, but make sure to take advice with a grain of salt. Seasoned veterans of the stock market may tell you of their victories but leave out their losses.
US GDP Growth Predictions for the Year 2017
In terms of a larger scale
financial prediction, U.S. GDP growth will continue to loom around 2.1%.
Unemployment will also experience stagnant rates. The current U.S. unemployment rate of 4.6% is below the historical average of 5.8% but will not be expected to drop much further in the next few years.
Although there is steady growth,
financial predictions based on past data suggest that we shouldn’t be expecting massive growth anytime soon.
Financial predictions indicate that the auto industry will experience quite a lot of activity. U.S. auto sales will exceed 17 million for the third year in a row. Light-vehicle sales amounted to 17.4 million in the year 2015!
Just like the auto industry, house sales will also increase. The projected number of home sales in 2017 is 6 million, which is quite a bit more than the 5.8 million that was projected back in 2016.
Along with these increases come negative increases as well. Credit card debt will reach an all-time high this year.
Consumer Credit Scores in the Year 2017
Interestingly enough consumer credit stores will also increase from a current average of 668 to 675. These increases will become less drastic as factors such as interest rates increase.
With regards to politics, the policies made by President Donald Trump will increase import growth and decrease export growth, which is the reverse of what he indicated in his campaign.
In 2017 the trade deficit will actually worsen. The export rate will be 2.4%, which is less than the 2016 rate of 2.6%. Imports are projected to be 4.4% in 2017, compared to 0.5% in 2016.
Regardless of any questionable new trends that may be coming to light in the stock market, you have control over the financial decisions you make.
Don’t invest all of your funds into one product, no matter how intensely popular it is. Be sure to save money and always be diligent when doing taxes.
The right choices can mean plenty of success for years to come!
By: Aaron Rodriques
