Consumer credit in the United States went up by USD 12.5 billion in November 2019, down from an upwardly revised USD 19 billion gain in October and below market expectations of a USD 15 billion rise. Revolving credit including credit card borrowing declined USD 2.4 billion, following a USD 7.9 billion rise in October. Meanwhile, non-revolving credit including loans for education and automobiles rose USD 14.9 billion, accelerating from an USD 11.1 billion advance in the prior month. Consumer Credit in the United States averaged 4.52 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. source: Federal Reserve

Consumer Credit in the United States is expected to be 10.10 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 15.98 in 12 months time. In the long-term, the United States Consumer Credit Change is projected to trend around 19.93 USD Billion in 2020, according to our econometric models.

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United States Consumer Credit Change

Actual Previous Highest Lowest Dates Unit Frequency
12.51 18.98 116.79 -111.95 1943 - 2019 USD Billion Monthly
SA



Calendar GMT Actual Previous Consensus TEForecast
2019-10-07 07:00 PM Aug $17.9B $23.05B $15.25B $19.1B
2019-11-07 08:00 PM Sep $9.51B $17.84B $15B $15.1B
2019-12-06 08:00 PM Oct $18.91B $9.58B $16B $14.6B
2020-01-08 08:00 PM Nov $12.51B $18.98B $15B $17.5B
2020-02-07 08:00 PM Dec $12.51B $12.2B


News Stream
2019-12-06
US Consumer Credit Growth Beats Expectations
Consumer credit in the United States went up by USD 18.9 billion in October 2019, above both a downwardly revised USD 9.6 billion gain in September and market expectations of a USD 16 billion rise. Revolving credit including credit card borrowing declined USD 7.9 billion, following a USD 0.2 billion rise in September. Also, non-revolving credit including loans for education and automobiles rose USD 11 billion, accelerating from USD 9.4 billion advance in the prior month. Year-on-year, consumer credit growth accelerated to 5.5 percent in October from 2.8 percent in September, as revolving credit jumped 8.8 percent (vs 0.2 percent), whereas non-revolving credit accelerated to 4.3 percent (vs 3.7 percent).

2019-11-07
US Consumer Credit Growth Nears 1-1/2-Year Low
Consumer credit in the United States went up by USD 9.5 billion in September 2019, below both a downwardly revised USD 17.8 billion gain in August and market expectations of a USD 15 billion rise. This is the slowest increase in total consumer credit since June 2018, as revolving credit including credit card borrowing declined USD 1.1 billion, following an upwardly revised USD 2.2 billion fall in August. Also, non-revolving credit including loans for education and automobiles rose USD 10.6 billion, the smallest gain in four months, easing from an upwardly revised USD 20.1 billion advance in the prior month. Year-on-year, consumer credit growth moderated to 2.8 percent in September from 5.2 percent in August, as revolving credit fell 1.2 percent (vs -2.5 percent in August), whereas non-revolving credit growth slowed to 4.2 percent (vs 7.9 percent in August).

2019-10-07
US Consumer Credit Beats Expectations
Consumer credit in the United States went up USD 17.9 billion in August 2019, after a revised USD 23.1 billion gain in July and beating market expectations of a USD 15.3 billion rise. Non-revolving credit including loans for education and automobiles increased USD 19.9 billion, the most in three years, after a USD 13.7 billion advance in the prior month, while revolving credit including credit card borrowing declined USD 2 billion, following a USD 9.4 billion climb in July. Year-on-year, consumer credit growth moderated to 5.2 percent in August from 6.8 percent in July, as revolving credit fell 2.2 percent (vs 10.5 percent in July), whereas non-revolving credit gained steam and climbed 7.8 percent (vs 5.4 percent in July).

2019-09-09
US Consumer Credit Growth Hits 1-Year High
Consumer credit in the United States went up by USD 23.3 billion in July 2019, the most in a year, easily beating market expectations of a USD 16.1 billion rise. Revolving credit including credit card borrowing climbed USD 10 billion, following a revised USD 0.2 billion decline in June. In addition, non-revolving credit including loans for education and automobiles rose USD 13.3 billion, after a USD 14.0 billion increase in the previous month. Year-on-year, consumer credit growth accelerated to 6.8 percent in July from 4.1 percent in June, as revolving credit jumped 11.2 percent (vs -0.2 percent in June), whereas non-revolving credit rose 5.3 percent (vs 5.6 percent in June).

2019-08-07
US Consumer Credit Grows Below Expectations
Consumer credit in the United States went up by USD 14.6 billion in June 2019, following an upwardly revised USD 17.79 billion advance in the previous month and compared to market expectations of a USD 16.0 billion rise. Non-revolving credit including loans for education and automobiles jumped by USD 14.7 billion, after a USD 10.3 billion increase in May. Meantime, revolving credit including credit card borrowing edged down USD 0.1 billion, following a USD 7.5 billion increase in the previous month. Year-on-year, consumer credit growth slowed to 4.3 percent from 5.3 percent in May, as non-revolving credit rose 5.8 percent (vs 4.1 percent in May) while revolving credit fell 0.1 percent (vs 8.4 percent in May).

2019-07-08
US Consumer Credit Beats Expectations
Consumer credit in the United States went up by USD 17.09 billion in May 2019, following a downwardly revised USD 17.46 billion gain in the previous month and above market expectations of a USD 16.65 billion rise. Revolving credit including credit card borrowing climbed by USD 7.2 billion, after a USD 7 billion increase in April. Meantime, non-revolving credit including loans for education and automobiles jumped by USD 9.9 billion, after a USD 10.5 billion increase in the prior month. Year-on-year, consumer credit went up 5 percent, easing from a 5.2 percent rise in April, as revolving credit went up 8.2 percent and non-revolving credit 3.9 percent.


United States Consumer Credit Change
In the United States, Consumer Credit refers to outstanding credit flows extended to individuals for household, family, and other personal expenditures, excluding loans secured by real estate.

United States Consumer Last Previous Highest Lowest Unit
Consumer Confidence 99.10 99.30 111.40 51.70 points [+]
Retail Sales MoM 0.30 0.30 6.70 -3.90 percent [+]
Retail Sales YoY 5.80 3.30 11.20 -11.50 percent [+]
Retail Sales Ex Autos 0.70 0.00 2.60 -4.00 percent [+]
Consumer Spending 13353.12 13250.04 13353.12 1403.69 USD Billion [+]
Disposable Personal Income 16702.70 16615.00 16702.70 351.54 USD Billion [+]
Personal Spending 0.40 0.30 2.80 -2.10 percent [+]
Personal Income 0.50 0.10 4.60 -4.70 percent [+]
Personal Savings 7.90 7.80 17.30 2.20 percent [+]
Consumer Credit 12.51 18.98 116.79 -111.95 USD Billion [+]
Private Sector Credit 9996.19 9970.48 9996.19 39.04 USD Billion [+]
Bank Lending Rate 4.75 4.75 20.50 2.00 percent [+]
Economic Optimism Index 57.40 57.00 62.90 35.80 [+]
Redbook Index 5.00 7.20 9.30 -5.80 percent [+]
Chain Store Sales 4386.00 3101.00 15875.00 2632.00 USD Million [+]
Gasoline Prices 0.67 0.69 1.07 0.24 USD/Liter [+]
Households Debt To GDP 75.00 74.90 98.60 23.80 percent of GDP [+]
Consumer Confidence Current Conditions 113.20 112.50 121.10 57.50 [+]
Consumer Confidence Economic Expectations 80.20 83.90 108.60 44.20 [+]
Consumer Confidence Price Trends 2.70 2.60 10.40 0.40 [+]