Inflation is causing a “personal recession” for many American consumers. The Fed continues to raise interest rates, making the cost to borrow too high for some. Unemployment is at a 50 year low, but consumers don’t feel like their household finances are better off than they were a year ago.

These macroeconomic trends should inform collections & recovery executives’ strategy decisions for the next year and beyond.

To get a better understanding of consumer sentiment, spending, and other key trends, let’s break down three critical takeaways from TransUnion’s Q4 2022 Consumer Pulse Survey:

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