Consumer credit increased in November

Consumer credit increased at a seasonally adjusted annual rate of 5.7% in November after increasing 1.4% in October. Total outstanding credit increased to $5,009.9 trillion in November.

Revolving credit, largely a reflection of credit card debt, increased at an annual rate of 17.7% to $1,314.6 trillion in November. Non-revolving credit increased at a 1.5% annual rate, and total non-revolving credit is now $3,695.3 trillion.

Federal government holdings of student loans continue to be the largest portion of non-revolving credit, comprising 39.3% of nonrevolving credit. Depository institutions and Finance companies are secondary and tertiary holders of non-revolving, with 24.9% and 19.0%, respectively of outstanding non-revolving credit.

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