For the entire industry, charge-off rates are at a higher level than before the COVID pandemic, reversing the trend in which consumers were able to pay down their credit card bills thanks to government stimulus money. The latest installment of the survey found that the share of consumers who expect higher unemployment levels in the coming year rose for the fifth consecutive month, the highest level of such expectations in 15 years. The FT report also pointed to store foot traffic data from Placer.ai, indicating that American shoppers flocked to low-priced warehouse club stores in the final week of March, possibly signaling the need to stock up before the tariffs kicked in.
Author: PYMNTS
Published at: 2025-04-13 22:30:35
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