U.S. Economic News
February 12, 2020
U.S. News
The Wall Street Journal reports that credit-card debt rose to a record high of $930 billion in the final quarter of 2019, part of the broader increase in consumer credit during the ongoing, record-long economic expansion. The share of credit-card debt in serious delinquency rose to the highest level in nearly eight years, raising concerns that some cardholders – especially younger ones – may be struggling with their debt. WSJ
According to Bloomberg, economists are increasingly pessimistic that China’s virus-hit economy will be able to make a speedy recovery, even amid signs that the spread of the disease may be slowing. Businesses in China will likely be slow to return to normality as restrictions on travel remain in place, and China’s outsized influence on the global economy suggests that other countries may still feel the impacts from the crisis for months to come. Bloomberg