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Consumer Credit and Personal Disposable Income

We have had four quarters in a row where real disposable income has gone down... and the only month in was positive in the last six quarters was during the cash drops during COVID.


If there is an increase in consumer credit at the same time it tell us that consumers are likely having to borrow from their future selves to pay for current living conditions today.


To that point - "Consumer credit in the United States increased by USD 41.82 billion in February of 2022. It was the biggest monthly gain in consumer credit since December of 2010, as non-revolving credit went up by USD 23.82 billion while revolving credit increased by USD 18 billion. On an annual basis, consumer credit grew 11.3 percent."


This means more higher interest rate credit card debt is being utilized to make ends meet.



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