The most recent Discover Financial Services' U.S. Spending Monitor survey suggests that credit unions will have to wait a bit longer for members' credit card use to return to previous levels.
The firm dropped its index of U.S. consumer spending intentions from 86.2 in May to 85.6 in June and reported that, overall, 59% of those surveyed rated the state of the U.S. economy as poor, an increase of four percentage points over the previous month.
For the third straight month, less than half of consumers, 47%, have money left over after paying the monthly bills, one percentage point lower than the previous month. Of those who do have money left over, 79% plan on having the same or more money left over than the previous month, a one-point increase from the previous month, Discover reported.
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