U.S. consumer debt rose in January

U.S. consumer debt rose in January by the least in four months on a sharp slowdown in use of revolving products such as credit cards, Federal Reserve data showed Wednesday. Total credit rose $13.9b m/m (est. $17.7b gain) and follows a revised $19.2b Dec. gain (prev. $18.4b) Revolving credit outstanding rose $701m, least since Feb. 2015, after a $6.1b Dec. increase  Non-revolving debt outstanding climbed $13.2b after a $13.1b riseKey Takeaways The slow growth in revolving debt, in line with sluggish household spending figures reported for January, indicates consumers may have been reluctant to increase credit-card balances following robust outlays in the fourth quarter. Gains in overall consumer credit cooled for a second month.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.