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Saturday, February 09, 2019

Consumer Credit Hits $4 Trillion As Student, Auto Loans Hit All Time High

After a few months of wild swings, in December US consumer credit normalized rising by $16.6 billion, just below the $17 billion expected, after November's whopping $22.5 billion. The surge in borrowing in November brought the total to just above $4 trillion for the first time ever on the back of a America's ongoing love affair with auto and student loans.

Revolving credit increased by $1.7 billion to $1.045 trillion, a modest slowdown since November's $4.8 billion.

Perhaps more notably, the lowest increase in December credit card usage since 2012.


1 comment:

Anonymous said...

Student loans have strapped many down trying to pay off thousands of dollars, yet congress wants to give illegals free college tuitions. Have they gone nuts, smoking too much weed! Why is it Illegals can get free health care, when we have so many who have to pay a lot. Give them social security, and irs give them tax money back when they have contributed nothing! Power sure has corrupted the democrats!