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). Consumer Credit in the United States averaged 4.50 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 15.71 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 23.69 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.