Consumers show signs of resilience and deleveraging in a slow credit market

Toronto, june 01, 2021 (globe newswire) -- today, transunion released the findings of its q1 2021 transunion industry insights report, which showed a sharp decline in balances across most products as higher consumer liquidity, reduced spending and lender accommodations enabled canadian credit consumers to navigate the ongoing public health and economic crises. while the canadian economy is improving, the credit market has been slow to recover as consumers are seeking fewer credit products and maintaining conservative borrowing behaviours. nevertheless, the canadian credit market shows signs of good health and consumer confidence is at its highest level in more than a year, according to transunion's most recent consumer pulse survey, which suggests an improved outlook for new credit activity in the latter half of 2021 and beyond.
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