Credit index same as in 1st quarter

The Consumer Credit Index for the second quarter of this year, at 54.4 points, was the same as for the first quarter, indicating a marginal improvement in consumer credit health for the first half of the year compared with 2014.

Credit bureau Transunion also said yesterday that new account defaults and distressed borrowing were slowing, but consumers were likely to remain under pressure for the remainder of the year. The Consumer Credit Index measures consumers’ ability to service their debt. “The improvement can be attributed in large part to more conservative lending from credit providers,” said TransUnion’s Owen Sorour.