Some Consumers Financed Holiday Spending With Record Amounts Of Debt

  • “While consumers are feeling the pressure of inflation and higher prices, and while there is continued stratification with consumer spending and behavior among households at different income levels, consumers remain resilient and continue to engage in commerce,” National Retail Federation CEO Matthew Shay said in a press release.
  • “In the face of these challenges, many households will supplement spending with savings and credit to provide a cushion and result in a positive holiday season.”
  • The global economy has experienced lackluster performance since public health mandates ended across the world.