CREDIT USAGE RISES - OPTIMISM TOO

Written on the 17 April 2013

CREDIT USAGE RISES - OPTIMISM TOO

ACCORDING to D&B’s Consumer Credit Expectations Survey, consumers are showing a less cautious approach to spending and letting savings fall by the wayside.

41 per cent said they will use their credit card for purchases they can't otherwise afford in the coming months.

This weighs in at the highest level in three years, and D&B presumes it is influenced by the absence of any pervasive negative news.

Moreover, consumers aren’t expecting their financial positions to be negatively affected on the whole.

They are setting aside a former conservative approach, with only 34 per cent expressing concern about meeting credit obligations and 19 per cent about debt increases in the next three months.

In addition to D&B’s survey, the aggregate findings of other consumer sentiment measures have too shown an upturn in confidence since late 2012.

Optimism seems to be stemming from low interest rates, a relatively steady unemployment rate, recovering house prices and a bullish stock market.

Nevertheless – despite the seemingly positive outlook – financial stress is still prevailing.

 

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