Total U.S. consumer credit declined by $7.49 billion in November 2024, much lower than the forecasted $10.30 billion and a significant drop from the previously revised $17.32 billion rise in October. This surprise decline in Consumer Credit raised concerns about weakening demand and potential challenges for the broader economy. Revolving credit, which includes personal and business lines of credit and home equity lines, fell sharply by 12%. This was a significant reversal from October's 13.4% growth, following a stable trend in September. On the other hand, nonrevolving credit, which includes auto loans and mortgages, saw a modest 2% rise, after small increases of 0.7% in October and 0.4% in September. This points to a divergence between consumer spending on revolving versus nonrevolving debt, with the latter continuing its steady rise. source: Federal Reserve

Consumer Credit in the United States decreased to -7.49 USD Billion in November from 17.32 USD Billion in October of 2024. Consumer Credit in the United States averaged 5.21 USD Billion from 1943 until 2024, reaching an all time high of 147.46 USD Billion in June of 2021 and a record low of -112.52 USD Billion in December of 2015. 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. United States Consumer Credit Change - data, historical chart, forecasts and calendar of releases - was last updated on January of 2025.

Consumer Credit in the United States decreased to -7.49 USD Billion in November from 17.32 USD Billion in October of 2024. Consumer Credit in the United States is expected to be 12.00 USD Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations.




Calendar GMT Reference Actual Previous Consensus TEForecast
2024-12-06 08:00 PM
Consumer Credit Change
Oct $19.24B $3.2B $10B $9.0B
2025-01-08 08:00 PM
Consumer Credit Change
Nov $-7.49B $17.32B $10.5B $14.0B
2025-02-07 08:00 PM
Consumer Credit Change
Dec $-7.49B $ 18B


Related Last Previous Unit Reference
Bank Lending Rate 7.50 7.75 percent Dec 2024
Chain Store Sales 2305.00 2184.00 USD Million Oct 2024
Michigan Consumer Sentiment 74.00 71.80 points Dec 2024
Consumer Credit Change -7.49 17.32 USD Billion Nov 2024
Consumer Spending 16113.00 15967.30 USD Billion Sep 2024
Credit Card Accounts 600.53 599.10 Million Sep 2024
Debt Balance Auto Loans 1.64 1.63 Trillion USD Sep 2024
Debt Balance Credit Cards 1.17 1.14 Trillion USD Sep 2024
Debt Balance Mortgages 12.59 12.52 Trillion USD Sep 2024
Debt Balance Student Loans 1.61 1.59 Trillion USD Sep 2024
Total Household Debt 17.90 17.80 USD Trillion Sep 2024
Disposable Personal Income 21995.10 21934.00 USD Billion Nov 2024
RCM/TIPP Economic Optimism Index 54.00 53.20 points Dec 2024
Gasoline Prices 0.80 0.81 USD/Liter Dec 2024
Households Debt to GDP 70.70 71.10 percent of GDP Jun 2024
Michigan Consumer Expectations 73.30 76.90 points Dec 2024
Michigan Current Conditions 75.10 63.90 points Dec 2024
Personal Income MoM 0.30 0.70 percent Nov 2024
Personal Savings 4.40 4.50 percent Nov 2024
Personal Spending MoM 0.40 0.40 percent Nov 2024
Private Sector Credit 12547.80 12520.20 USD Billion Nov 2024
Redbook YoY 6.80 7.10 percent Jan 2025
Retail Sales Ex Autos MoM 0.20 0.20 percent Nov 2024
Retail Sales Ex Gas/Autos MoM 0.20 0.20 percent Nov 2024
Retail Sales MoM 0.70 0.50 percent Nov 2024
Retail Sales YoY 3.80 2.90 percent Nov 2024
Used Car Prices MoM -0.30 1.30 percent Dec 2024
Used Car Prices YoY 0.40 0.20 percent Dec 2024

United States Consumer Credit Change
In the United States, Consumer Credit refers to outstanding credit flows extended to individuals for household, family, and other personal expenditures, excluding loans secured by real estate.
Actual Previous Highest Lowest Dates Unit Frequency
-7.49 17.32 147.46 -112.52 1943 - 2024 USD Billion Monthly
SA


News Stream
US Consumer Credit Spending Unexpectedly Fall in November
Total U.S. consumer credit declined by $7.49 billion in November 2024, much lower than the forecasted $10.30 billion and a significant drop from the previously revised $17.32 billion rise in October. This surprise decline in Consumer Credit raised concerns about weakening demand and potential challenges for the broader economy. Revolving credit, which includes personal and business lines of credit and home equity lines, fell sharply by 12%. This was a significant reversal from October's 13.4% growth, following a stable trend in September. On the other hand, nonrevolving credit, which includes auto loans and mortgages, saw a modest 2% rise, after small increases of 0.7% in October and 0.4% in September. This points to a divergence between consumer spending on revolving versus nonrevolving debt, with the latter continuing its steady rise.
2025-01-08
US Consumer Credit Growth Beats Expectation in October
Total consumer credit in the U.S. jumped by $19.2 billion in October 2024, accelerating from a downwardly revised $3.2 billion rise in a month earlier and beating market estimates of $10 billion increase. This marked the fastest pace of growth since July, equating to an annual growth rate of 4.5%, up from just 0.8% in September. Revolving credit, including credit card debt, saw a notable 13.9% increase, the largest since February, following a smaller 1.4% gain in September. Meanwhile, nonrevolving credit, which includes auto and student loans, grew by 1.1%, slightly up from 0.5% the prior month.
2024-12-06
US Consumer Credit Growth Below Estimates in September
Total consumer credit in the U.S. rose by $6 billion in September 2024, a slowdown from the $8.93 billion increase in August and well below the expected $14.5 billion rise. The seasonally adjusted annual growth rate was 1.4%. Revolving credit, including credit card debt, went up at an annual rate of 2.8%, and nonrevolving credit, such as auto and student loans, grew at 3.4%. For the third quarter overall, consumer credit expanded at a seasonally adjusted annual rate of 3.2%.
2024-11-07