US Consumer Credit Growth Surpasses Estimates in November

Total consumer credit in the US rose by $23.7 billion in November of 2023, from a $5.7billion increase in the previous month and way above market expectation of a $9 billion growth. Revolving credit, like credit cards, jumped by $19.1 billion (up 17.7 percent on an annual basis). Non Revolving credit, typically auto and student loans, rose by $4.6 billion (up 1.5 percent on an annual basis) from the prior month.

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