Holiday Spending Trends and Gen Z
- The Equifax Market Pulse Index currently stands at 61.4, indicating a decline in overall U.S. consumer financial health compared to previous years.
- The Equifax Market Pulse Index is calculated using consumer credit reports, debt-to-income ratios, income levels, student loan impacts, wealth volatility, and delinquency rates.
- A key factor contributing to the financial strain on younger generations is a lack of a financial safety net.Severe delinquencies among young city families and young singles have...
Holiday Spending Trends
The Equifax Market Pulse Index currently stands at 61.4, indicating a decline in overall U.S. consumer financial health compared to previous years.
The Equifax Market Pulse Index is calculated using consumer credit reports, debt-to-income ratios, income levels, student loan impacts, wealth volatility, and delinquency rates. The current score of 61.4 represents a 0.6 point decrease as 2021. This decline is primarily driven by the worsening financial situations of Millennials and Gen Z. Millennials have experienced a 1.1 point decrease in their index score over the past four years, while Gen Z has seen a more notable drop of 3.3 points. As an inevitable result, Millennials are projected to decrease holiday spending by 1%, and gen Z by 23%.
A key factor contributing to the financial strain on younger generations is a lack of a financial safety net.Severe delinquencies among young city families and young singles have increased as April 2019.