RIVERWOODS, Ill. — Discover Card's brand new Spending Confidence Monitor has found falling consumer confidence and an unwillingness among cardholders to spend, the brand reported.
The survey revealed the decline in spending confidence coincides with an increased number of consumers facing money shortages along with a decreased confidence in personal finances, Discover said.
Thirty percent of consumers felt their personal finances were improving compared to 34% last month. Additionally, consumer confidence in managing their budgets declined as fewer (49%) reported having money left over after paying all of their bills compared to last month (55%). Of those consumers who did have money left over, 78% were expecting to have the same or more money left over in July as well.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
