The economy is doing just fine, according to recent government data, but consumers are declaring bankruptcy at a record pace, and that indicates an underlying frailty in the expansion.

In the first quarter, personal bankruptcies totaled almost 253,000, a record. In addition, several organizations have indicated that bankruptcies worsened during the spring and summer. Indeed, some evidence suggests credit card delinquencies have become particularly chronic.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.