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Consumers and the Economic Outlook - US - July 2018

"Consumers remain confident in their financial health and anticipate little change in the coming year, resulting in stable patterns of financial opinions and behaviors. Consumers hope to save for the future while also maintaining spending levels that accommodate their current lifestyle. This Report looks at the role credit score plays in consumer attitudes and behaviors to highlight opportunities to reach consumers based on this measure. Those with self-described higher credit scores are more comfortable with spending, while those with lower scores are trying to save and potentially build their credit up to higher levels."
- Jennifer White Boehm, Associate Director - Financial Services

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Table of contents

  1. Executive Summary

    • Overview
      • In focus: credit score
        • Figure 1: Total consumer debt, by debt type, Q2 2018
        • Figure 2: Self-reported credit score, May 2018
      • Consumers with higher credit typically make more, have higher education
        • Figure 3: Self-reported credit score segmentation, May 2018
    • State of the Economy

      • Economic indicators mostly unchanged from Q2 2018
        • Figure 4: Key economic indicators, June 2018
      • Consumer confidence dips, but remains high
        • Figure 5: Consumer Sentiment Index, January 2017-May 2018
      • Unemployment and DPI change by less than 1%
        • Figure 6: Disposable Personal Income and unemployment rate, January 2018-April 2018
    • Current Financial Situation

      • Nearly 8 in 10 consider their financial situation to be fine
        • Figure 7: Opinion of current financial situation, May 2018
      • Consumer optimism remains high
        • Figure 8: Opinion of current financial situation, Q1 2017-Q2 2018
      • Excellent credit score reveals confidence in financial situation
        • Figure 9: Opinion of current financial situation, by credit score, May 2018
    • Changes in Financial Wellbeing

      • Highest number of consumers see no change in financial wellbeing
        • Figure 10: Potential for changes in financial wellbeing, May 2018
      • Financial wellbeing remains steady
        • Figure 11: Potential for changes in financial wellbeing, Q1 2017-Q2 2018
      • Consumers with low credit see greatest potential for moderate changes
        • Figure 12: Potential for changes in financial wellbeing, by credit score, May 2018
    • Improving Finances

      • Saving continues to be the most important for economic improvement
        • Figure 13: Factors to improve financial situation, May 2018
      • Importance of job stability falls, while generating supplemental or higher-income increases
        • Figure 14: Top factors to improve financial situation, job stability, and supplemental income, Q1 2017-Q2 2018
      • Consumers with lower credit scores place more value in working hard
        • Figure 15: Opinion of current financial situation, by credit score, May 2018
    • How Money Is Spent

      • Consumers both spend and save in almost equal measure
        • Figure 16: How money is spent, May 2018
      • Spending, saving behaviors remain consistent
        • Figure 17: How money is spent, Q1 2017-Q2 2018
      • Past three-month approach to debt differs by credit score
        • Figure 18: How money is spent, done in the past three months, by credit score, May 2018
      • Looking forward, top-tier credit plans to spend, while average credit plans to save
        • Figure 19: How money is spent, done in the past three months, by credit score, May 2018
    • Appendix – Data Sources and Abbreviations

      • Data sources
        • Consumer survey data
          • Abbreviations and terms
            • Abbreviations

            Consumers and the Economic Outlook - US - July 2018

            US $2,500.00 (Excl.Tax)