The US economy is an intricate, delicate system that overwhelmingly relies on the spending by American consumers. In fact, in 2013, retail sales made up 35% of the US GDP that year and while it is not a majority of GDP, it still represents a significant chunk of the overall economy. Being that retail sales are such a key part of the US economy, it certainly is ideal to check in on the health of the consumer and determine an outlook. Specifically, we will be taking a look at credit card debt held by Americans for clues as to…
Credit Card Default Rate At Lowest Level Since 1995
22percent