Consumer Credit Trends Indicate Economic Concerns

Consumer credit card usage has remained flat over the past seven months, signaling a lack of confidence among consumers about their economic future. When consumers feel secure in their incomes and job prospects, they are more likely to use credit, purchasing items even when they might not need them. Conversely, as concerns about job security and income stability rise, consumers tend to stop using their credit cards and may even prioritize paying down debts. This shift in behavior highlights broader economic anxieties that suggest consumers are perceiving an uncertain labor market, which can ultimately stifle economic growth.