Filling up the tank could cost less this summer, and that would likely be a positive for consumer spending.
One other spending concern to keep in mind might be how consumers handle their debt loads. Dana Telsey, chief investment officer at The Telsey Group, noted that consumer credit has deteriorate with delinquencies “ticking up to pre-pandemic levels, and in some cases, surpassing those levels.” Citing a 2024 TransUnion first quarter credit report, she note the report highlight that inflation challenges and higher interest rates are causing consumers across all income levels to turn to credit to cope with financial pressures.
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