Photo: New York Fed
The deleveraging process is slowing and U.S. consumers are starting to take on more debt, according to the latest quarterly credit report from the New York Fed.The data from Q1 2011 shows consumers are agressively cutting credit card debt, down by 4.6% in the quarter, and improving their overall financial health, with foreclosures, bankruptcies, and delinquincies all down.
Overall, this report shows a stabalization in conditions. It may not seem positive at first, but with many believing housing still has some way to dip, and the deleveraging process some way to go, it may a short improvement before things get worse.
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