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New Report Measures Consumer Borrowing Intentions
Tuesday, February 7, 2017 6:40 AM

Filene Research Institute has released a new report, “Confidence in Borrowing: Survey 2016,” to examine national consumer borrowing. Research was collected in September 2016, investigating consumers’ borrowing intentions for the next six months. The survey reveals extremely low confidence: 93 percent of the 1,164 U.S. respondents aged 18 and older “do not plan on borrowing” over the next six months. More than 80 percent report being worried about current debt.

“Consumer borrowing is an important macroeconomic measure because it parallels consumer spending and serves as an important measure of consumer confidence and health,” said report writer Hope Jensen Schau, a professor of marketing. “Loan growth is also an important driver of sustainability for credit unions that currently depend on consumer lending and mortgage lending for the majority of their earnings.”

To learn more, download the report from Filene’s Center for Consumer Decision Making, which uncovers consumer preferences, trends, and behaviors in money management. The research is sponsored by CUNA Mutual Group.