While our PWA [Macro] Index has dropped from the low 80s to the low 40s (still a historically decent reading) during the course of this year, the driver of 2/3rds of U.S. economic activity -- based on his/her credit performance -- is doing just fine.
Here's Bespoke Investment Group on the subject:
......impressive is the recent collapse in the share of consumers who are facing collection proceedings. As shown, those have swung from nearly 15% in 2012 to a paltry 9% today. That’s a good sign for both the current state of consumer credit performance and the outlook for consumers’ ability to access credit.
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