8 November 2022 | Other

US consumer lending slows down

In September, the indicator of consumer borrowing in the United States showed a smaller increase than expected, which indicates a decrease in outstanding credit-card debt.

According to the Fed's data released on Monday, total credit increased by $25 billion from the previous month. However, economists expected to see more growth, their average forecast value was at the level of $30 billion.

For the first time in the last four months, revolving credit outstanding that includes credit cards, showed the smallest growth, increasing by $8.3 billion, while non-revolving credit that consists of student and auto loans, rose $16.7 billion, reaching the highest level in the last three months.

The spike in inflation has driven up prices not only for necessities, such as electricity, but also for discretionary purchases, including, for example, airline tickets.

In this regard, individual households are trying to tighten their belts. Visa Inc. and Mastercard Inc. have paid attention to the slowing growth in spending in recent times. And yet, it can be said that US households have shown a high resilience to a sharp increase in prices.

Company MarketCheese
Period: 22.04.2025 Expectation: 800 pips
USDCAD to rise from new support at 1.38200
Yesterday at 11:39 AM 29
Period: 26.04.2025 Expectation: 3909 pips
GBPUSD technical correction opens up selling opportunities with 1.288 target
Yesterday at 11:13 AM 21
Elizabeth_Kuzmicheva
Elizabeth_Kuzmicheva

Listed among the best MarketCheese authors
1st in the segment "Metals"
Period: 24.04.2025 Expectation: 150 pips
Brent crude poised to rebound to $69
Yesterday at 10:55 AM 24
Period: 22.04.2025 Expectation: 1495 pips
AUDCAD set to enter fifth wave of growth
Yesterday at 08:29 AM 33
Period: 23.04.2025 Expectation: 2500 pips
Rebound to 145 could interrupt USDJPY decline
17 April 2025 66
AntonVolkov
AntonVolkov

Listed among the best MarketCheese authors
1st in the segment "Currencies"
Period: 21.04.2025 Expectation: 600 pips
AUDUSD rebounds from 0.64000 resistance level
17 April 2025 38
Go to forecasts