Consumer credit in the United States went up by USD 10.28 billion in March 2019, following an upwardly revised USD 15.45 billion gain in the previous month (vs preliminary USD 15.19 billion) and below market expectations of a USD 16.0 billion rise. This is the slowest increase in total consumer credit since last June, when it reached USD 8.84 billion. Revolving credit including credit card borrowing declined USD 2.2 billion, after an upwardly revised 3.1 billion climb in February. Meantime, non-revolving credit including loans for education and automobiles jumped USD 12.4 billion, matching an upwardly revised USD 12.4 billion increase in the prior month. Year-on-year, consumer credit went up 3.1 percent, easing from a 4.6 percent rise in February, as a 5 percent gain in non-revolving credit was partly offset by a 2.5 percent fall in revolving credit. Consumer Credit in the United States averaged 4.43 USD Billion from 1943 until 2019, reaching an all time high of 116.79 USD Billion in December of 2010 and a record low of -111.95 USD Billion in December of 2015.
Consumer Credit in the United States is expected to be 4.85 USD Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Consumer Credit in the United States to stand at 17.37 in 12 months time. In the long-term, the United States Consumer Credit Change is projected to trend around 16.27 USD Billion in 2020, according to our econometric models.