Measure of U.S. Consumer Financial Health Shows Modest Improvement In Consumer Financial Position Over Previous Quarter
The Q2 2026 Equifax Market Pulse Index rose marginally to 61.3, marking the first pause in the widening K-shaped economic gap in three years.Financial stability improved across every generation despite record-low consumer sentiment, driven primarily by wealth and asset cushions rather than credit scores or annual income alone.
ATLANTA, Sept. 28, 2026 /PRNewswire/ — Equifax® (NYSE: EFX) today released its second quarter 2026 Market Pulse Index, a measure of U.S. consumer financial health derived from anonymized credit, debt, income, and asset data along with VantageScore credit score insights. The Market Pulse Index rose slightly from 60.9 to 61.3, showing marginal improvement from the previous quarter, though the national average still sits just below where it stood a year ago.
For the first time in three years, there was no observation of a widening gap in the K-shaped economy. The Index continues to track three consumer segments — Thrivers (those with an Index above 80), the Middle (those with an Index between 50 and 79), and Strivers (those with an Index of 49 and below) — each experiencing different financial realities.
“We have closely observed the K-shaped economy since the COVID-19 pandemic. For the last three years, we have watched the gap between the top and the bottom of the ‘K’ widen, while the middle class shrank. In the second quarter of 2026, that pattern paused,” said Emmaline Aliff, Advisory Leader at Equifax. “The Middle grew slightly, while the Striver population shrank and the Thriver population grew. One quarter does not make a trend, but this is the first quarter in some time where we have observed some improvement.”
The Economic Divide Paused
Movement across the three Market Pulse Index consumer segments ran in the opposite direction from recent quarters. The top-tier Thrivers grew by 3.2%, the Middle, which represents nearly 70% of the U.S. population, expanded slightly by 0.9%, and the more economically sensitive Strivers contracted by 4.2%, the segment’s sharpest drop since the fourth quarter of 2023.
Assets Remain the Clearest Dividing Line
Assets, not income or credit, defined as savings or other sources of wealth that can be used for pending needs or debt obligations if needed, remain the clearest dividing line between the segments. Nearly 78% of Thrivers are considered Affluent, holding more than $1 million in assets that act as a strong economic shield. On the opposite end of the spectrum, over 97% of Strivers are Mass Market, with less than $100,000 in assets, and none are considered Affluent.
The Middle segment is where wealth is most mixed. About 32.4% of all U.S. consumers are Mass Affluent households, having between $100,000 and $1 million in assets, sitting in the Middle. Within that specific segment, the split between Mass Affluent and Mass Market is close to even at 46.8% and 42.9%, respectively. Households at similar asset levels can sit on either side of the Middle depending on their credit, debt, and income.
Every Generation Improves Across The Board
For the first time since the third quarter of 2025, Market Pulse Index values rose across all age segments, with the share of Strivers falling in all four groups:
Millennials led the entire population with a 1.0% quarterly gain to an average Index of 58.7, and posted the largest drop in their Striver share at 1.4 points. Millennials still represent the largest generational group among Strivers at 35.7% of that segment.Generation Z rose 0.6% to an average Index of 59.3, continuing a pattern of steady career integration and financial growth. Gen Z posted the largest gain in Thrivers of any generation, up 0.7 points.Generation X increased 0.8% to an average Index of 60.8 as they continue to balance peak career debt against the cost of essential needs.Boomers+ remain the most financially stable segment with an average Index of 64.5. Their asset cushions anchor both the middle and upper tiers: Boomers+ make up 36.6% of the Middle and 47.8% of Thrivers, the largest generational group in each.
Sentiment vs. Reality: Feelings Didn’t Match Financial Changes
Consumer sentiment, as measured by the University of Michigan Survey of Consumers, fell to 49.5 in the second quarter, marking its lowest reading since tracking began. However, this feeling did not match consumers’ actual financial status change for the quarter as sentiment continued to fall even though the Market Pulse Index incrementally rose, and late debt payments improved from 2.1% to 1.9%.
Credit Behavior Is Not the Same as Financial Capacity
Additionally, the latest Market Pulse Index data reiterates that consumers’ financial position is not the same as a credit score alone. Prime borrowers (scores of 661–780) make up almost exactly the same share of every segment: 30.0% of Strivers, 30.7% of the Middle, and 23.9% of Thrivers.
At the same time, 9.3% of Thrivers hold scores below 660, and 43.5% of Strivers carry prime or super-prime (scores of 781-850) credit. Excellent payment history is widespread across the country, with super-prime representing 38.4% of the entire U.S. population.
What separates Strivers are tight budgets and a lack of assets rather than difficulty meeting credit obligations: 81% of Strivers earn under $65,000 per year, making them highly sensitive to price changes, while nearly 88% of Thrivers earn more than $100,000.
The Equifax Market Pulse Index provides a comprehensive view of U.S. consumer financial health by synthesizing anonymized credit, debt, income, and asset data with VantageScore credit score insights. The Index is designed to capture the combined effects of multiple economic forces rather than focusing on a single variable. Measured on a scale of 1 to 100 — where 100 represents the greatest financial strength — the Index delivers a holistic picture of consumer economic well-being, allowing for precise comparisons across diverse demographics and generations.
The Equifax Market Pulse Index was built using AI and machine learning methods leveraging proprietary Equifax wealth and asset data along with data from the Equifax credit file and VantageScore 4.0 credit scores to provide a comprehensive view of consumer financial health. It distills the credit, debt, income, capacity, and assets of U.S. consumers into one benchmark number to reflect the cumulative index of both positive and negative financial factors. To learn more, read the full Market Pulse Index here.
ABOUT EQUIFAX INC.
At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by nearly 15,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.com.
FOR MORE INFORMATION:
Tiffany Smith for Equifax
mediainquiries@equifax.com
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SOURCE Equifax Inc.
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