More Consumers Expect To Miss Debt Payments in Next Three Months

Slightly more consumers expect to miss a debt payment in the next three months, according to data released today by the Federal Reserve Board of New York.

The FRB’s Survey of Consumer Expectations revealed that 12.8% of survey respondents expect to miss a debt payment in the next three months, up from 12.4% in April. But the results remained in line with the 10.9%-13% range that has been experienced since the beginning of 2015.

Survey respondents generally expect their financial situation to be worse a year from now.

Consumers expect the unemployment rate to be higher a year from now although more people think they will be able to find a job in the next three months, according to the survey.