Can The Economy Improve Before Consumers Run Out Of Money?
by UPFINA
Even though the labor market was tight at the end of the last expansion and credit card debt wasn’t nearly as big of an issue as it was in the previous cycle, the percentage of American Express loans 30 days past due creeped up from 0.9% in 2015 to 1.7% in 2019. This could be an individual company issue with lending standard changes. That being said, the recent decline to 1.4% which is the lowest since July 2019 was related to the macro picture.
Source: http://econintersect.com/pages/investing/investing.php?post=202008190534
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