Consumer Credit Figures Increase for Fifth Straight Month

February 7, 2013, Written By Lynn Oldshue

U.S. consumers increased their debt in December by a seasonally adjusted 6.3 percent or $14.6 billion, according to the monthly G19 report from the Federal Reserve.

This was the fifth consecutive monthly increase in consumer credit. In November, consumer borrowing rose by a revised figure of $15.9 billion.

The increase was due entirely to a jump in non-revolving debt such as student loans, personal loans and auto loans. Non-revolving credit rose at a seasonally adjusted 11.4 percent or $18.2 billion in December after a $15.3 billion gain in November. This is the largest increase since November 2001.

December is the month of holiday shopping, but credit card debt decreased $3.6 billion in the month, the largest decrease since July. This follows a $573 million increase in revolving credit figures in November.



The information contained within this article was accurate as of February 7, 2013. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.


About Lynn Oldshue

Lynn Oldshue has written personal finance stories for LowCards.com for twelve years. She majored in public relations at Mississippi State University.
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