Early Holiday Spending Comes Despite Tight Consumer Budgets

Early Holiday Spending Comes Despite Tight Consumer Budgets

Continued housing distress and rising prices for food and gas are weighing heavily on American families’ finances as the holiday shopping season begins, a quarterly analysis shows. The CredAbility Consumer Distress Index, a measure of household financial stability, fell sharply in the third quarter, largely erasing improvements made over the prior three quarters. An uptick in late mortgage and rental payments and higher prices at the grocery store and gas pumps were the chief culprits.

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