Thursday, January 8, 2015

Consumer Credit Grew 5.1% (SAAR) in November

Consumer credit increased at a seasonally adjusted annual rate of 5.1% in November to $3.3 trillion. Revolving credit growth declined 1.3% (to $882 billion) and non-revolving credit grew 7.5% (to $2.4 trillion).

Total outstanding consumer credit increased by $14.1 billion. Total outstanding non-revolving credit increased by $15 billion, while total outstanding revolving credit decreased by $0.9 billion.

Federal Government holdings of student loans continues to be the largest portion of non-revolving credit, making up 35% of outstanding credit. Finance companies and depository institutions are the secondary and tertiary holders of non-revolving credit, holding 26% and 25%, respectively. Depository institutions continue to be the primary holder of revolving credit, holding 82%.

Read the Federal Reserve release.

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