Tag Archive for ‘student loan 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 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 ›

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 ›

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 ›

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 ›