U.S. Consumer Credit Market Poised for More Growth in 2019
Low unemployment rates and continued positive growth in both GDP and real disposable income are among the key drivers that will propel the U.S. consumer credit market in 2019. Partly due to the strong performance of these economic indicators, TransUnion’s 2019 Consumer Credit Forecast found that originations and consumer balances are expected to increase for most credit products while serious delinquency rates will likely decline or remain steady.
“The consumer credit market has been buoyed by relatively strong macroeconomic factors this year and our forecast sees more of the same in the year ahead. Consumer demand for credit cards, personal loans and auto loans is expected to remain high, and lenders are expected to continue looking to expand their books of business by providing more subprime and near prime borrowers with loans. This is a positive for both lenders and consumers.”
Matt Komos, Vice President of Research and Consulting at TransUnion
Serious Borrower-Level Delinquency Rates Mostly Trending Down for Key Credit Products**
- Personal Loans