Consumer Credit Growth Increased in November

In November, consumer credit increased at a seasonally adjusted annual rate of 4.4 percent. Revolving credit decreased at an annual rate of 1.0 percent, while nonrevolving credit increased at an annual rate of 6.1 percent.

Federal government holdings of student loans continue to be the largest portion of non-revolving credit, comprising approximately 43.1% of outstanding credit. Depository institutions and finance companies are secondary and tertiary holders, with 25.3% and 16.7%, respectively, of outstanding non-revolving credit.

Read the Fed release.