Updated: 07-Feb-25 15:18 ET
| December Consumer Credit |
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| Updated: 07-Feb-25 15:18 ET |
Highlights
- Consumer credit increased a whopping $40.8 billion in December (Briefing.com consensus $13.4 billion) after declining by an upwardly revised $5.4 billion (from $7.5 billion) in November.
- December saw the largest increase in consumer credit since June 2021.
Key Factors
- Revolving credit surged by $22.9 billion to $1.382 trillion.
- Nonrevolving credit increased by $18.0 billion to $3.763 trillion.
- Consumer credit increased at a seasonally adjusted annual rate of 9.6% in December with revolving credit increasing at an annual rate of 20.2% and nonrevolving credit increasing at an annual rate of 5.8%.
Big Picture
- The key takeaway from the report is that there was healthy demand for consumer credit in December despite relatively high interest rates.
| Category | DEC | NOV | OCT | SEP | AUG |
| Total Credit | $40.8B | -$5.4B | $17.5B | $3.0B | $4.3B |
| Revolving | $22.9B | -$13.9B | $15.3B | $1.8B | -$1.8B |
| Nonrevolving | $18.0B | $8.5B | $2.2B | $1.2B | $6.2B |