Consumer credit in the United States went up by USD 17.05 billion in January 2019, up from a downwardly revised USD 15.36 billion gain in the previous month and above market expectations of a USD 16.0 billion rise. Revolving credit including credit card borrowing climbed USD 2.5 billion, compared to a downwardly revised USD 1.0 billion advance in December. Meantime, non-revolving credit including loans for education and automobiles rose by USD 14.5 billion, little changed from a downwardly revised USD 14.4 billion in the prior month. Year-on-year, consumer credit went up 5.1 percent, as revolving and non-revolving credit increased by 2.9 percent and 5.9 percent, respectively. Consumer Credit in the United States averaged 4.76 USD Billion from 1950 until 2019, reaching an all time high of 118.08 USD Billion in December of 2010 and a record low of -113.42 USD Billion in December of 2015.
Consumer Credit in the United States is expected to be 13.00 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 10.00 in 12 months time. In the long-term, the United States Consumer Credit Change is projected to trend around 8.00 USD Billion in 2020, according to our econometric models.