CredAbility: Georgia Financial Distress Growing
Press release from the issuing company
Friday, August 27th, 2010
Georgia’s level of financial distress is growing, according to the CredAbility Consumer Distress Index results for the second quarter.
The Atlanta-based nonprofit credit counseling and education agency’s index is a quarterly measure that tracks the financial condition of the average U.S. household. It found high levels of unemployment and the strain of housing costs continue to keep consumers mired in financial distress. But consumers’ net worth has increased for the past five quarters as they continue to pay down debt and, in some parts of the country, benefit from stabilizing housing prices.
Georgia scored a 61.37 out of 100 in the second quarter, compared with 63.65 in the second quarter of 2009 and 61.24 in the first quarter of 2010.
