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POSTED ON March 8, 2023  - POSTED IN Key Gold Headlines

In January, retail sales came in much hotter than expected. Now we know how consumers paid for the spending spree. They put it on credit cards.

After slowing modestly in December, growth in revolving debt spiked again in January. But a slowdown in non-revolving credit moderated the overall increase in consumer debt.

Overall, this signals a pretty bleak trajectory for the economy.

POSTED ON February 20, 2023  - POSTED IN Key Gold Headlines

After charting its biggest increase since 2007 in the third quarter, household debt surged again in Q4 as Americans try to borrow their way out of the squeeze soaring price inflation has put on their wallets.

Total household debt rose by $394 billion in the last quarter of 2022, according to the latest New York Fed Household Debt and Credit report. It was the biggest quarter-on-quarter rise in two decades.

POSTED ON December 8, 2022  - POSTED IN Key Gold Headlines

After household debt grew by the largest amount since 2007 in the third quarter, American consumers kicked off the fourth quarter by piling on even more debt.

Consumer debt grew by another $27 billion in October, a 6.9% year-on-year increase. Americans now owe $4.73 trillion in consumer debt, according to the latest data released by the Federal Reserve.

POSTED ON November 16, 2022  - POSTED IN Key Gold Headlines

With real wages decreasing and inflation running rampant, Americans are burying themselves in debt to make ends meet.

After setting a new record in the second quarter, household debt increased at the fastest pace in 15 years during Q3, as American consumers have run up credit card balances month after month this year as they cope with higher prices. Meanwhile, rising interest rates have ballooned mortgage balances.

POSTED ON November 10, 2022  - POSTED IN Key Gold Headlines

With prices rising and real wages falling, many Americans are struggling to make ends meet. They are increasingly turning to credit cards and other debt to fill the gap. But that creates other problems. Debt has to be repaid and a growing number of Americans are struggling to keep up with payments.

Auto loan delinquencies have risen to the highest level in over 10 years, according to TransUnion.

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