Consumer credit in the United States went up by USD 22.1 billion in December 2019, up from a downwardly revised USD 11.8 billion gain in November and above market expectations of a USD 15 billion rise. That was the biggest monthly gain since July, as revolving credit including credit card borrowing climbed USD 12.7 billion, the most since 1998, following a USD 3 billion decline in November. Meanwhile, non-revolving credit including loans for education and automobiles rose USD 9.4 billion, the least since September, from a USD 14.7 billion advance in the prior month. Year-on-year, credit grew 6.3 percent, after rising 3.4 percent in the previous month. In 2019, credit growth was at 4.7 percent, the same pace as in 2018.
Consumer Credit in the United States averaged 4.47 USD Billion from 1943 until 2019, reaching an all time high of 29.91 USD Billion in November of 2017 and a record low of -18.54 USD Billion in June of 2009. This page provides the latest reported value for - United States Consumer Credit Change - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. source: Federal Reserve
Consumer Credit in the United States is expected to be 10.18 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 22.59 in 12 months time. In the long-term, the United States Consumer Credit Change is projected to trend around 23.09 USD Billion in 2021 and 23.55 USD Billion in 2022, according to our econometric models.