Consumer confidence has started to move sideways at a 120 level. The current measurement placed the indicator at 119.8 down slightly from 120.4. After a steady increase for many months’ confidence has plateaued. It would be nearly impossible for confidence to increase into infinity as it becomes increasingly difficult to maintain improvements. The fact current consumer confidence has not deteriorated is reassuring. Future expectations has also flattened at a low 100 level. The current measurement places the indicator at 102.2 a slight increase over a previous 101.7.

Consumer credit continues to expand at an above historical rate after taking a quick recess while the consumer manages debt in a responsible manner. Default rates in bank card related debt improved while auto loans worsened and mortgage defaults remained stable.