U.S. Consumer Borrowing Experiences Significant Decline as Credit Card Balances Plummet

U.S. Consumer Borrowing Experiences Significant Decline as Credit Card Balances Plummet
3 months ago

Recent data reveals a notable decrease in consumer borrowing within the United States, primarily driven by a steep fall in credit card balances. According to the latest figures released by the Federal Reserve, total consumer credit has dropped by an annualized rate of 2.4% in November 2024, following an increase of 5.3% in the previous month. This marks a significant turnaround in borrowing trends, especially in light of the ongoing economic climate.

Continue reading
Surge in Consumer Borrowing Driven by Rising Credit Card Debt

Surge in Consumer Borrowing Driven by Rising Credit Card Debt
4 months ago

In a significant development, U.S. consumer borrowing witnessed a notable uptick, primarily propelled by a sharp increase in credit card balances. According to data released by the Federal Reserve, consumer credit rose by $24.5 billion in October, marking a robust growth rate that signifies heightened financial activity among Americans.

Continue reading