US Consumer Credit Growth Misses Estimates in October

Total consumer credit in the US increased by $5.13 billion in October of 2023, from a $9.06 billion rise in the previous month and missing market estimates of a $9 billion growth. Revolving credit, like credit cards, went up by $2.88 billion (up 2.7 percent on an annual basis). Non Revolving credit, typically auto and student loans, rose by $2.25 billion (up 0.7 percent on an annual basis) from the prior month.

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