Consumer credit increases in November

Consumer credit increased at a seasonally adjusted annual rate of 7.1% in November and 6.9% in November. Total outstanding credit increased $27.9 billion during the month to $4.76 trillion.

Revolving credit, largely a reflection of credit card debt, increased at an annual rate of 16.9% to $1.2 trillion in November. Non-revolving credit rose at a 3.9% annual rate, and total non-revolving credit is now 3.6 trillion.

Federal government holdings of student loans continue to be the largest portion of non-revolving credit, comprising 41.5% of outstanding credit. Depository institutions and finance companies are secondary and tertiary holders of non-revolving, with 26.3% and 15.8%, respectively, of outstanding non-revolving credit.

Read the Fed release.