New consumer credit index launched

South Africa’s consumer credit health has seen some major improvement in recent months according to the newly launched TransUnion Consumer Credit Index (CCI).
The CCI, a uniquely developed indicator of consumer credit health based on a 100-point scale, showed an improvement of nearly five points in the first quarter of the year increasing from 51.2 to 55.7.
Speaking at the launch of the CCI in Johannesburg yesterday, Geoff Miller, CEO of TransUnion, said this was an extremely encouraging sign amidst the global talks of gloom and doom. It indicated that South African households at least, for the time being, were under less pressure. Credit health refers to the ability of consumers to service existing credit obligations within the constraints of monthly household budget.
And this bodes well for the economy, said Russel Lamberti, head strategist at ETM Analytics, who helped develop the CCI.