Research and Statistics

Infographic: Consumers expect credit to stay tight


A few hopeful consumers predict credit accessibility will get easier — but most think it will get tougher or stay the same

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Will it be easier to get credit a year from now? The New York Federal Reserve’s new “Survey of Consumer Expectations” posed that question to consumers between June and December 2013. The results show that little has changed in those six months, with more people saying access to credit will get harder than those saying it will get easier.

The survey tracked a slight increase (from 0.65 percent in June to 1.37 percent in December) in those who thought credit access would get much easier in the next year. However, the bulk of participants didn’t think easier credit would make a comeback. Only 20 percent said credit accessibility would get much easier or somewhat easier, while twice as many (about 40 percent) said it would become much or somewhat harder. Another 40 percent, meanwhile, said credit conditions were unlikely to change.

The Survey of Consumer Expectations, which the New York Fed will release every month going forward, surveyed 1,200 heads of household online. In addition to credit conditions, survey participants were asked about the job market and inflation.

Survey participants were asked to predict credit availability a year from now.

Consumers expect credit to stay tight

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