How Is Consumer Credit Performing?
Investors are keeping a close eye on the financial health of the U.S. consumer, which can make or break the economy, which in turn can make or break the market.
Consumers came into this year riding high with built-up savings from the pandemic as a result of stimulus and less spending with many normal activities put on hold as people hunkered down to try and prevent the spread of COVID-19. But now a lot of those savings have been spent due to high levels of inflation and consumers making up for lost time. Consumers are once again piling into debt, and rising interest rates have also made this debt more expensive.
With many experts forecasting a recession next year, it's very important to keep tabs on the consumer. Here is how consumer credit held up in November, which is the latest month we have data for.
Source Fool.com
