Following a burst in consumer credit growth in the past few months, driven by both revolving, or credit card, debt as well as non-revolving auto and student loans, in December the US consumer took a breather, and total consumer credit grew by only $14.2 billion, nearly half of last month's $25.2 billion, and lowest monthly increase since February.
Despite the modest slowdown, total US credit card debt was just a fraction away from $1 trillion, and just a few months away from regaining its previous record of $1.02 trillion attained just prior to the last financial crisis.
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2 comments:
Rutt-ro.
The ballon is almost to full capacity. I have said 2017-2018 the second bubble will burst. I hope this president says no to a bailout but the same players have cards in the game, time will tell.
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