Tag Archive for ‘non-revolving 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 ›

Nonrevolving Debt Increases as Auto Loan Rates Surge

According to the Federal Reserve’s latest G.19 Consumer Credit report, total consumer credit outstanding totaled $4.78 trillion in February, a decrease of $12 billion over the month but $300 billion higher than February 2022. Nonevolving credit outstanding increased $1.0 billion while the level of revolving debt—primarily credit card debt—fell $13.0 billion over the month. Revolving debt outstanding has declined two consecutive… 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 ›

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 ›