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No, Americans are not funding their spending with debt.
There is a constant refrain out there that American consumers are running up big credit card tabs to fuel an unsustainable spending spree. The only problem is it's dead wrong. The balance of revolving credit not secured by real estate—primarily credit cards—has declined over the past several years when measured against disposable personal income. The credit to income ratio is now 5.7, compared with 6.1 in mid-2024. Non-revolving credit for things like autos, recreational vehi
1 day ago
What's fueling consumer spending?
Consumer spending has held up surprisingly well even as labor markets have cooled and sentiment has plumbed record lows. After slowing earlier this year it has once again firmed in recent months. Why?
At least part of the story is the rise in household wealth over the past few years.
Jan 26
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