US Consumer Credit Growth Slows in October
The total consumer credit reached $5.08 trillion in October, falling short of market predictions, which had forecast a rise of $11.8 billion.
During the month, revolving credit, including credit cards, grew by $5.4 billion, while non-revolving credit, encompassing home, auto, and student loans, increased by $3.7 billion.
On a yearly basis, consumer credit advanced by 2.2% in October. Revolving credit climbed 4.9% annually over the same period, whereas non-revolving credit experienced a more modest growth of 1.2%.
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