THE WIRE · № 73944
BREAKING: Total consumer credit rose +$8.3 billion in August, to a record $5.19 trillion. This marks the 14th consecutive monthly increase, totalling +$154 billion. Since the start of 2022, consumer credit has risen +$684 billion. Non-revolving credit, covering auto and studen
01 THE MACHINE READ
WHY IT MATTERS.
Record consumer credit growth shows households still borrowing, supporting spending but raising debt-service risk if rates stay elevated.
Record credit signals consumer resilience but growing leverage risk
Next monthly credit and retail sales data
Credit stress if job market weakens sharply
FULL DISPATCH
BREAKING: Total consumer credit rose +$8.3 billion in August, to a record $5.19 trillion. This marks the 14th consecutive monthly increase, totalling +$154 billion. Since the start of 2022, consumer credit has risen +$684 billion. Non-revolving credit, covering auto and student loans, rose +$13.1 billion in August, to $3.84 trillion, an all-time high. Meanwhile, revolving credit, which includes credit cards, fell -$4.8 billion, to $1.35 trillion, its 4th-highest level on record. US consumers are still borrowing.
02 THE STORY SO FAR
THE RECORD, IN ORDER.
STANDALONE ITEM — NOT YET FOLDED INTO A DEVELOPING STORY.
03 WHO'S INVOLVED
ENTITIES ON FILE.
04 RECEIPTS
THE SOURCE RECORD.
1 SOURCES CONFIRMED05 PROPAGATION
WHAT THIS TOUCHES.
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The cost of consumer credit is rising. The average interest rate on a US credit card rose +0.2 percentage points in August, to 22.36%, its highest level in 12 months. This is now only 1.0 percentage point below the record 23.37% set in August 2024. Since 2021, the average cred2026-10-09 20:33 UTC
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Summaries are generated and may contain errors — every claim links its sources.