Record Household Debt Suggests Consumers Facing Financial Strain

A resilient consumer could become a more budget-conscious one this year, experts warn.

Sales advertisement at a shop in the Fashion Centre at Pentagon City shopping mall in Arlington, Va., on Jan 3, 2024. Madalina Vasiliu/The Epoch Times

The U.S. economy has stumped observers and defied recession calls. Despite the plethora of headwinds threatening the world’s largest economy, from soaring borrowing costs to inflationary pressures, the country has witnessed better-than-expected gross domestic product (GDP) readings and strong labor market conditions.

Experts have rationalized the hot data by alluding to resilient consumers.