Consumer Credit Rises, Points To Strength In Consumer Spending

Consumer credit rose $22.1 billion in November vs a revised $25.0 billion in October. Revolving debt, reflecting credit-card use, continued to rise but at a bit slower pace, up $4.8 billion vs a sharp $9.3 billion increase in October. Nonrevolving debt, a mix of vehicle loans and student loans, rose $17.4 billion vs October's $15.6 billion rise. Against a backdrop of healthy credit standards, the gains in this report point to sustainable strength in consumer spending and are a plus for the economy.