October 2023 spending trends: Economy cools as rate hikes finally take hold

Despite an improving economic outlook, U.S. consumers are holding tight to their wallets. Nonfarm payrolls jumped by 339,000 jobs in May, yet the unemployment rate ticked up to 3.7% for the month ...

Following a strong March, a rise in economic uncertainty resulted in more muted consumer spending activity in April.

Despite a still-strong job market, spending across most categories cooled according to Co-op’s member credit union payment portfolio data for February. The data shows that consumers are tightening...

With a strong holiday shopping season in the rear-view mirror, January spending results were muted as consumer confidence dipped in response to mixed economic signals. January’s surprisingly ...

Coming off a solid holiday shopping season amidst signs of an improving economy, credit unions can anticipate a positive spending outlook as we begin the new year. Perhaps not surprisingly, we saw...

Read November’s Payment Trends Report to gain access to the latest spending trends and learn where your credit union should focus its efforts now to optimize your credit and debit portfolios

In October’s Payment Trends Report, learn about which spending trends Co-op’s SmartGrowth experts are watching now, and discover how your credit union can leverage Co-op’s credit union portfolio data

Like last year, the holiday shopping season is kicking off early this year as consumers and retailers continue to wrestle with supply chain issues and rising inflation.