95% Of Total Consumer Credit Lent In Past 12 Months Is For Student And Car Loans

Another month, another disappointment for all those who hope the consumer will finally "charge it." In November, consumer credit was expected to grow by $14.25 billion, instead it rose by $12.318 billion. However, it was once again the components that were key, because while $11.9 billion or the vast majority of November's credit growth was in the form of car and student loans (i.e., non-revolving), a tiny $458 million was for revolving, or credit card, purchases.

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