Business
Coronavirus: Consumers, flush with stimulus money, shun credit-card debt – The Australian
When unemployment soared at the start of coronavirus lockdowns, credit-card debt and delinquencies were widely expected to surge as struggling households borrowed more to make ends meet.
- ByMatthew DaltonandAnnamaria Andriotis
- Dow Jones
- 7:49PM August 3, 2020
- Comments
When unemployment soared at the start of coronavirus lockdowns, credit-card debt and delinquencies were widely expected to surge as struggling households borrowed more to make ends meet.
Instead, amid the deepest economic crisis since the Great Depression, the opposite happened. Credit-card debt in advanced economies has fallen. Fewer people are late on their credit-card paym…
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