December 2023 Credit Industry Snapshot

The document is a report detailing the findings of TransUnion's December 2023 Credit Industry Snapshot. It outlines the trends in consumer-level delinquency rates, which have increased across all products for the fifth consecutive month. The report notes that while economic growth is expected to decelerate in 2024, there is optimism regarding the avoidance of a recession, supported by a rise in the University of Michigan’s Index of Consumer Sentiment. The report also highlights that the Consumer Price Index stood at 3.4%, indicating ongoing inflation, which has influenced balance growth across consumer products. Key metrics such as serious delinquency rates and average balances across various credit products, including auto loans, bankcards, and mortgages, are presented. The report concludes with insights aimed at guiding lending strategies based on the observed trends in consumer credit.