Consumer Credit Rises On Revolving Credit

Consumers were heating up their credit cards in November as revolving credit, up $11.2 billion in the month, made a sizable contribution to total credit outstanding which rose $28 billion for a 17-year high. The rise in revolving credit is the second largest of the ongoing expansion and perhaps indicates less reluctance among the nation's consumers to run up their credit cards. And though it hints at momentum going into December's shopping, it may also revive talk of slackening credit standards. Nonrevolving credit, where auto financing and student loans are tracked, rose $16.8 billion which is also a sharp rise.

Recent History Of This Indicator:
Revolving credit has been on the rise indicating less reluctance among consumers to run up their credit cards. Revolving credit rose $8.3 billion in October for the biggest monthly gain since November 2015. Nonrevolving credit, which tracks vehicle financing and also student loans, rose $12.2 billion. After October's $20.5 billion increase, consumer credit is expected to rise $18.0 billion in November.