Global Credit Trends Equifax Australia 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. 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.
Global Credit Trends Equifax Australia 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. 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. Credit demand has now reached pre pandemic levels (uk), at around 92% (es) compared to 2019 uk annual growth rate for all lending at 6.5% in march (12.5% for credit cards) australia & new zealand au mortgage demand approaching pre pandemic levels, q2 2022 fell 7% compared to same quarter last year.
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