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Debt still taking its toll
The latest Credit Bureau Monitor indicates that while lower interest rates and salary increases might ameliorate the plight of many consumers paying off debts, the percentage of consumers in good standing is continuing to fall.
The report's figures continue the trend of increasing levels of debt stress in line with forecasts. In the months ahead, increases in remuneration and the downward trend in interest rates should start to assist various categories of consumer. However, the increasingly poor economic trends in various sectors of the economy are going to strongly increase stress levels of persons in those sectors.
The conflicting economic trends, suggest that the absolute levels of debt stress will remain at high levels, if not increase, for at least the next two quarters.
Read the full report here.
