Consumer credit outstanding growth slowed to 4.0% in the second quarter 2023 (SAAR) according to the Federal Reserve’s latest G.19 Consumer Credit report, as revolving and nonrevolving debt grew at 7.1% and 3.0%, respectively. Revolving credit growth has decelerated as of late, a result of both cooling inflation and increasingly tight lending standards. Total consumer credit outstanding stands at $5.0 trillion… Read More ›
Tag Archive for ‘consumer debt’
Consumer Credit Growth Slows in Q1 2023
According to the Federal Reserve’s latest G.19 Consumer Credit report, the growth of total consumer credit outstanding slowed from 7.4% to 5.4% (seasonally adjusted annual rate) in the first quarter of 2023. Nonrevolving (excluding real estate debt) and revolving debt grew 3.1% and 12.3%, respectively, over the quarter. On an unadjusted basis, the level of nonevolving credit outstanding at the end… Read More ›
Growth of Revolving Debt Slows, Auto Loan Rates Spike in Q4 2022
The balance of consumer credit outstanding grew 6.5% in the fourth quarter of 2022 (seasonal adjusted annual rate) after climbing 6.7% (SAAR) in the third quarter according to the Federal Reserve’s latest G.19 Consumer Credit report. Revolving debt—which consists primarily of credit card debt—increased at a 12.0% rate, as the level of nonrevolving debt (excluding real estate) grew 4.8% (SAAR). Total… Read More ›
Revolving Debt Surges as Credit Card Rates Hit 18-Year High
According to the Federal Reserve’s latest G.19 Consumer Credit report, consumer credit (ex-real estate) grew at a seasonal adjusted annual rate (SAAR) of 6.8% in the third quarter of 2022. Revolving debt increased at a 12.9% rate, more than double the pace of nonrevolving debt (+4.9%). Credit card interest rates reached 16.3%, the highest level since the inception of the… Read More ›
Revolving Consumer Credit Posts Double-Digit Increase in Q2 2022
Non-real estate consumer credit grew at a seasonal adjusted annual rate (SAAR) of 8.7% in the second quarter of 2022 according to the Federal Reserve’s latest G.19 Consumer Credit report. Revolving debt climbed 14.6% (SAAR), double the increase in nonrevolving debt (+6.9%). Total consumer credit currently stands at $4.6 trillion, with $1.1 trillion in revolving debt and $3.5 trillion in… Read More ›
Revolving Debt Expands in October
The Federal Reserve’s latest G.19 Consumer Credit Report shows rising trends in consumer credit, excluding loans secured by real estate, through October 2019. In October, consumer credit increased at a seasonally adjusted annual rate of 5.5 percent from the previous month, with revolving debt1 increasing by 8.8 percent and nonrevolving debt2 increasing by 4.3 percent. Consumer credit totaled $4.2 trillion… Read More ›
Consumer-held Housing Debt Shrinks in the Second Quarter
Data released by the Federal Reserve Bank of New York indicates that aggregate consumer debt fell by 0.2%, $18 billion, between the first and second quarter of 2014. Overall, consumer debt still remains 8.2% below the peak of $12.7 trillion reached in the third quarter of 2008. As Figure 1 illustrates, housing-related debt accounted for the decline in total household… Read More ›