Consumer Credit Expectations Surpassed in the U.S. in September: Exceeded 5 Trillion Dollars

US Consumer Credit Data Released

The Federal Reserve (Fed) has released the anticipated consumer credit data for September. According to the data, consumer credit increased by approximately $13.1 billion in September, reaching $5.0766 trillion. This figure surpassed the market expectation of $10.4 billion.

Increases by Type of Credit

During this period, revolving credit, such as credit cards, rose by $1.6 billion on a monthly basis, while non-revolving credits, such as mortgages, auto loans, and student loans, saw an increase of $11.4 billion.

Annual Consumer Credit Increases

As of September 2023, consumer credit showed an annual increase of 3.1 percent. When examined in more detail, the annual increase in revolving credit was 1.5 percent, while non-revolving credits experienced a 3.7 percent increase.