Consumer credit in the United States went up by USD 17.09 billion in May 2019, following a downwardly revised USD 17.46 billion gain in the previous month and above market expectations of a USD 16.65 billion rise. Revolving credit including credit card borrowing climbed by USD 7.2 billion, after a USD 7 billion increase in April. Meantime, non-revolving credit including loans for education and automobiles jumped by USD 9.9 billion, after a USD 10.5 billion increase in the prior month. Year-on-year, consumer credit went up 5 percent, easing from a 5.2 percent rise in April, as revolving credit went up 8.2 percent and non-revolving credit 3.9 percent. Consumer Credit in the United States averaged 4.46 USD Billion from 1943 until 2019, reaching an all time high of 116.79 USD Billion in December of 2010 and a record low of -111.95 USD Billion in December of 2015.
Consumer Credit in the United States is expected to be 14.95 USD Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Consumer Credit in the United States to stand at 17.37 in 12 months time. In the long-term, the United States Consumer Credit Change is projected to trend around 16.27 USD Billion in 2020, according to our econometric models.