Consumer finance stress declines, but bankruptcy inquiries rise
02/27/2024 01:30
Financial stress declined by 3.2 points for the American consumer month-over-month, according to LegalShield's Consumer Stress Legal Index. However, the data also revealed rising bankruptcy inquiries, potentially signaling difficulty for the economy going forward. Matt Layton, LegalShield SVP of Consumer Analytics, joins Yahoo Finance to discuss consumer confidence and what may lie ahead for the broader markets. When asked about the near-term economic outlook, Layton says: "Our flagship indexes, composed of three individual indices that looks at bankruptcies, consumer finance, and foreclosures. I think the story here is that bankruptcy data. The bankruptcy index increased for the fifth conservative month in a row, and right now it's at its highest level since March of 2020. What's extremely interesting about this is our LegalShield bankruptcy index, actually leads the bankruptcy filings reported by the US Court system by up to two-quarters of six months. So we fully believe the increases we're seeing today are going to be sustained for at least the next six months." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Nicholas Jacobino
Financial stress declined by 3.2 points for the American consumer month-over-month, according to LegalShield's Consumer Stress Legal Index. However, the data also revealed rising bankruptcy inquiries, potentially signaling difficulty for the economy going forward.
Matt Layton, LegalShield SVP of Consumer Analytics, joins Yahoo Finance to discuss consumer confidence and what may lie ahead for the broader markets.
When asked about the near-term economic outlook, Layton says: "Our flagship indexes, composed of three individual indices that looks at bankruptcies, consumer finance, and foreclosures. I think the story here is that bankruptcy data. The bankruptcy index increased for the fifth conservative month in a row, and right now it's at its highest level since March of 2020. What's extremely interesting about this is our LegalShield bankruptcy index, actually leads the bankruptcy filings reported by the US Court system by up to two-quarters of six months. So we fully believe the increases we're seeing today are going to be sustained for at least the next six months."
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Nicholas Jacobino