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News Link • Economy - Economics USA

Consumer Credit Hits $4 Trillion As Student, Auto Loans Hit All Time High

• https://www.zerohedge.com

After a few months of wild swings, in December US consumer credit normalized rising by $16.6 billion, just below the $17 billion expected, after November's whopping $22.5 billion. The surge in borrowing in November brought the total to just above $4 trillion for the first time ever on the back of a America's ongoing love affair with auto and student loans.

Revolving credit increased by $1.7 billion to $1.045 trillion, a modest slowdown since November's $4.8 billion.

Perhaps more notably, the lowest increase in December credit card usage since 2012.

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