Global Credit Trends About Us Equifax The number of consumers with at least one 30 dpd (days past due) delinquency increased from 4.4% in 2019 to 5.1% in 2023. in addition, credit card balances have increased 24% since 2019 while credit limits have increased by 26%. credit limits and balances associated with 30 dpd increased by 41% and 46% respectively during this same timeframe. Credit card balances have increased 24% since 2019 compared to credit limits increasing by 26%. credit limits and balances associated with 30 dpd arrears increased by 41% and 46% respectively. the number of consumers with at least one 30 dpd delinquency increased from 4.4% in 2019 to 5.1% in 2023. utilization for consumers with at least one.
Global Credit Trends About Us Equifax United states: non mortgage debt increased by ~9% yoy, driven by increases in credit card debt (15%) and auto debt (7%). credit card originations limits are on the rise and are currently 9% higher than the same time a year ago. canada: non mortgage debt continues to rise with credit cards being the biggest driver. The top three trends across the globe in 2023: 1. hardship assistance is helping consumers get back on track. after declaring financial hardship, 70% of australian credit card consumers maintain or improve their status. under credit laws in australia, if a consumer could afford a loan when it was obtained, but a change in circumstances means. Gdp: world bank has reduced growth forecast from 3.1% to 2.6% in 2023 primarily attributed to political uncertainty and the slowdown in economic activity inflation remains stable at 2,5% annual average for 2023. interest fed rate has increased in the last quarter; 9,03% (jun 2023) and had affected ecuadorian market access to new liquidity1. Global outlook rising card delinquencies overall multiple regions are showing an uptick in credit card delinquencies canada credit card utilization is increasing with high consumer spending. it is currently at 22.3%, up 8% from q2 2021 non mortgage* debt canada average credit limit on new cards is up 27% when compared to the same time period in.
Global Credit Trends About Us Equifax Gdp: world bank has reduced growth forecast from 3.1% to 2.6% in 2023 primarily attributed to political uncertainty and the slowdown in economic activity inflation remains stable at 2,5% annual average for 2023. interest fed rate has increased in the last quarter; 9,03% (jun 2023) and had affected ecuadorian market access to new liquidity1. Global outlook rising card delinquencies overall multiple regions are showing an uptick in credit card delinquencies canada credit card utilization is increasing with high consumer spending. it is currently at 22.3%, up 8% from q2 2021 non mortgage* debt canada average credit limit on new cards is up 27% when compared to the same time period in. As of june 2024, total u.s. consumer debt was $17.51 trillion, up 3.9% from june 2023. mortgage debt, including home equity loans, accounted for $12.77 trillion, a 72.9% share of total debt, while non mortgage consumer debt totaled $4.74 trillion, with 34.7% of non mortgage consumer debt attributable to auto loans and leases and 31.5% attributable to student loans. Growth in consumer spending is finally starting to slow. in canada, the rise in post pandemic spending has slowed. average credit card spend per credit card consumer went up by 22.7% yoy in q2 2022 but q2 2023 saw a much smaller increase of 3.7%. the restraint in credit card spend was more prominent for mortgage holders and higher income segments.
Comments are closed.