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 ›
Tag Archive for ‘g.19’
Revolving Debt Climbs as Credit Card Interest Rates Set New Records
The balance of consumer credit outstanding grew 7.1% in November 2022 (seasonal adjusted annual rate) after climbing 7.4% (SAAR) in October according to the Federal Reserve’s latest G.19 Consumer Credit report. Revolving debt—which consists primarily of credit card debt—increased at a 16.9% rate, more than four times the growth of nonrevolving debt (excluding real estate) which grew 3.9% (SAAR). Credit card… Read More ›
Consumer Credit Increases in First Quarter
In the first quarter of 2022, non-real estate secured consumer credit, per the Federal Reserve’s latest G.19 Consumer Credit report, grew at a seasonal adjusted annual rate of 9.7%, with revolving debt growing at 21.4% and nonrevolving at 6.1%. Total consumer credit currently stands at $4.5 trillion, with $1.1 trillion in revolving debt and $3.4 trillion in non-revolving debt. From… Read More ›
Consumer Credit Increases in 2021
The Federal Reserve’s latest G.19 Consumer Credit Report states that consumer credit increased 5.9 percent in 2021, with revolving and nonrevolving credit increasing 6.6 percent and 5.7 percent, respectively. During the fourth quarter, consumer credit increased at a seasonally adjusted annual rate of 6.6 percent, while the December monthly increase was 5.1 percent. The year of 2021 ended with $4.4… Read More ›
Q3 2021 Consumer Credit
In the third quarter of 2021, non-real estate-secured consumer credit increased at a seasonally adjusted annual rate by 5.6%, with revolving debt1 increasing by 7.4% and nonrevolving debt2 increasing by 5.1%. Consumer credit totaled $4.4 trillion on a seasonally adjusted annual basis, with $1 trillion comprised of revolving debt and $3.4 trillion in nonrevolving debt. This outstanding level marks a total increase of… Read More ›
Revolving Credit Rises in the First Quarter
In the first quarter of 2021, consumer credit increased at a seasonally adjusted annual rate by 5.1%, with revolving debt1 increasing by 2.4% and nonrevolving debt2 increasing by 5.9%. Consumer credit totaled $4.2 trillion on a seasonally adjusted annual basis, with $980 billion comprised of revolving debt and $3.3 trillion in nonrevolving debt. This outstanding level marks a total increase of $54 billion… Read More ›
Revolving Credit Decreased in January
In January 2020, consumer credit decreased at a seasonally adjusted annual rate by 0.4% from the previous month, with revolving debt1 decreasing by 12.2% and nonrevolving debt2 increasing by 3.2%. Consumer credit totaled $4.2 trillion on a seasonally adjusted annual basis, with $965 billion comprised of revolving debt and $3.2 trillion in nonrevolving debt. This marks a total decrease of $1.3 billion from… Read More ›
Little Change for Total Consumer Credit in 2020
As with most things in 2020, consumer credit’s trajectory of growth was upended by the COVID-19-induced economic recession. Revolving credit, of which credit card debt is a major component, shrank by 11.2% over the year, while nonrevolving credit increased 3.9%, thus producing an overall growth rate of 0.0%. In December, consumer credit increased at a seasonally adjusted annual rate of… Read More ›
Credit Card Debt Continues to Decrease in November
The Federal Reserve’s latest G.19 Consumer Credit Report shows trends in consumer credit, excluding loans secured by real estate, through November 2020. In the penultimate month of 2020, consumer credit increased at a seasonally adjusted annual rate of 4.4%, with revolving debt1 decreasing by 1.0% and nonrevolving debt2 increasing by 6.1%. Consumer credit totaled $4.2 trillion on a seasonally adjusted… Read More ›
Open-Ended Credit Rebounds in Third Quarter
The Federal Reserve’s latest G.19 Consumer Credit Report shows trends in consumer credit, excluding loans secured by real estate, through September 2020. In the third quarter of 2020, consumer credit increased at a seasonally adjusted annual rate of 2-1/4 percent, while nonrevolving credit increased by 4 percent and revolving credit decreased by 2-1/2 percent. In September, consumer credit increased at… Read More ›