Consumers continue to reduce
February 18, 2010
A recent study by Experian and Oliver Wyman found that consumers are taking on less debt, as evidenced by market declines in outstanding and newly originated balances. Specifically, from Q2 2008 to Q2 2009, the data reflected a 13 percent decline in overall open loans and a 3 percent decline in outstanding balances. Additionally, consumer demand for new credit has declined and remains sluggish.
Interested in staying up to date on consumer credit trends?
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"Unique insights on consumer credit trends – highlights from the Q4 2009 Experian-Oliver Wyman Market Intelligence Report"
Source: "Understanding changes in consumer credit supply and demand," An Experian white paper.