Tom Burton looks at delinquency rates across student loans, credit cards, and auto loans. Credit card delinquencies dropped last quarter and auto loan delinquencies are leveling off after rising. He's watching whether these trends hold or threaten consumer spending.
So I look at delinquency rates for those three elements, student loans, credit cards and auto loans, and they had been rising quite substantially, particularly for credit cards and auto loans. But in case of credit cards, the last quarter, we actually saw them tick down, and in case of auto loans, they're leveling off. So we're not having this worsening situation. So I'm going to keep watching that and figuring out whether or not it's becoming problematic enough to affect the overall economy and really stifle retail environment spending by the consumer.
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