Posted 1/4/2024, 6:29:10 PM
Consumer Confidence Rises as Inflation Eases, Spurring Interest in Big Purchases
- Consumers more confident about finances, show greater interest in big purchases like homes and cars
- Share interested in buying home up 15% and cars up 16% vs last year despite market conditions
- Consumers have most financial optimism since Dec 2020, expect to have less debt
- Inflation slowing and interest rates expected to drop, which could further boost spending
- Average credit card debt at record $9.2k, but consumers aim to pay down balances