AllPennyStocks.com U.S. Consumer Credit Remains High, But Less Than Expectations
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U.S. Consumer Credit Remains High, But Less Than Expectations

U.S. Consumer Credit Remains High, But Less Than Expectations By: Dylan Sikes – AllPennyStocks.com News

Friday, November 11, 2022

In the United States, total consumer credit fell in September, up a 6.4 percent seasonally adjusted annual rate, which was down from a revised 7.8 percent gain in August and below economist expectations.

Consumer credit is reported monthly by the Federal Reserve and is a measure of personal debt taken on to purchase goods and services. Forms of consumer credit can be a credit card or any type of personal loan, but does not include mortgages.

Revolving credit, which includes credit cards, rose 8.7 percent in September, less than half of the 18.1 percent seen in September.  Nonrevolving credit, typically auto and student loans, rose 5.7 percent, up from a 4.5 percent growth rate in the prior month.  

Given high levels of interest rates and inflation, consumer credit is being closely watched by policymakers. 



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