Consumer Credit Grew 5.5 Percent (SAAR) in October

Consumer credit increased in October at a seasonally adjusted annual rate of 5.5 percent, rising to $3.51 trillion. Revolving credit rose at an annual rate of 0.2 percent to $924 billion, and non-revolving credit increased at an annual rate of 7.4 percent to $2.59 trillion.

Total outstanding consumer credit increased $16.0 billion, down from last month’s increase of $28.6 billion. Total outstanding non-revolving consumer credit increased by $15.8 trillion, down from a September increase of $21.9 billion. Outstanding revolving credit grew by $0.2 billion, down from an $8.7 billion increase in September.


Federal government holdings of student loans continue to be the largest portion of non-revolving credit, comprising 36 percent of outstanding credit. Depository institutions and finance companies are the secondary and tertiary holders, holding 25 percent and 24 percent of outstanding non-revolving credit.

Read the release.