Consumer credit in the United States went up by USD 15.19 billion in February 2019, following an upwardly revised USD 17.72 billion gain in the previous month (vs preliminary USD 17.05 billion) and below market expectations of a USD 17.0 billion rise. Revolving credit including credit card borrowing climbed USD 3.0 billion, little-changed from an upwardly revised USD 2.6 billion advance in January. Meantime, non-revolving credit including loans for education and automobiles rose by USD 12.2 billion, compared to an upwardly revised USD 15.1 billion increase in the prior month. Year-on-year, consumer credit went up 4.5 percent (vs 5.3 percent in January) as revolving and non-revolving credit increased by 3.4 percent and 4.9 percent, respectively. Consumer Credit in the United States averaged 4.35 USD Billion from 1943 until 2019, reaching an all time high of 28.64 USD Billion in November of 2017 and a record low of -18.63 USD Billion in June of 2009.
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.