Yonkers, N.Y. – American consumers are reporting significantly fewer financial troubles than any time in the past three years, according to the Consumer Reports Index. The Index’s trouble tracker index, which measures the proportion of consumers that have faced difficulties as well as the number of negative financial events they have encountered, dropped from 41.7 in April to 34 in May. This is the lowest trouble tracker score since Consumer Reports began reporting it in April 2009 and more than 50% below its all-time high score of 68.7 in September 2009.
The greatest drop in financial difficulties over the past 30 days was among those in households earning less than $50,000, followed by the most affluent in homes earning $100,000 or more. Middle-income Americans experienced a slight rise in financial troubles.
"The data offers a glimpse that consumers may be starting to see and feel the progress of the economic recovery," said Ed Farrell, director of consumer insight at the Consumer Reports National Research Center.