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Tuesday, November 08, 2016

Student, Auto Loans Hit New All Time High Of $2.5 Trillion As Consumer Credit Jumps By $19 Billion

The Fed's latest consumer credit report revealed that in September, overall household credit rose by a greater than expected $19.3 billion, above the $18 billion expected, if below last month's near-record $26.8 billion.

There were no major surprises in the components of overall credit, with revolving, credit-card debt rising by $4.2 billion, in line with the increase observed in recent months.

The ongoing increase in revolving debt, means the total amount of credit card debt outstanding has nearly caught up with the $1.02 trillion peak reached during the credit bubble.

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