U.S. consumer credit data from CreditForecast.com, a joint product of Equifax and Moody's Analytics, projects a rebounding consumer environment along with recovering auto and home markets in 2012.
TransUnion’s Credit Risk Index declined for the seventh consecutive quarter, which the credit reporting agency partially attributed to low demand for credit. The one bright spot was demand for auto credit.
Financing for big-ticket items like autos did rise in September, but the Federal Reserve’s latest report on consumer credit also indicated that consumers are paring down debt in other areas.
Auto finance companies have increased lending by more than 47 percent over the past two years, according to the latest Equifax National Credit Trends Report.
First-half credit growth outpaced the first half of 2010 by $43 billion, with the automotive segment being one of the key drivers, according to Equifax’s National Credit Trends Report.
Results from a poll conducted by the National Foundation for Credit Counseling (NFCC) revealed that 89 percent of consumers prefer to pay down debt than increase their savings.
Multiple portfolio metrics indicate that the U.S. credit market is stabilizing and is growing, according to Equifax's monthly “National Credit Trends Report” for March 2011.
Consumer credit increased at an annual rate of 1.1 percent, or $2.1 billion, in September, according to the Federal Reserve’s monthly report.
Consumer credit decreased at an annual rate of 1.7 percent in August, according to the Federal Reserve’s monthly report.
Consumer credit increased at an annual rate of 0.5 percent in April, according to the Federal Reserve’s monthly report.
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