Economic Update: New forecast released

There is one standout amid the uncertainties outlined in America’s Credit Unions’ latest Economic Update. "The war is the biggest and most visible risk to our outlook,” said Vice President of Data and Research and Chief Economist Curt Long.

The forecast shows that the economy is still holding strong, even with the risks and uncertainty. Unemployment has stabilized. Consumers are still spending their money.

However, Long noted that the longer the conflict in the Middle East continues, the more pressure the economy will face.

The credit union forecast revealed a likely return to median levels of share growth and a slight drop in delinquencies and charge-offs.

“Credit unions look well-positioned to manage this uncertainty moving forward,” said Long.

Watch the full Economic Update: