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Consumer Credit Jumped in December | The Mesh Report

Consumer Credit Jumped in December

Mike Hammer February 10, 2020 Comments Off on Consumer Credit Jumped in December

US consumers really went on a holiday spending spree in November and December. Consumers increased their debt load in November by $14 billion – which itself came as a bit of a surprise – and then dwarfed that figure by charging a cool $22.1 billion in December.

These figures bring the overall consumer debt in the US to $1.1 Trillion-with-a-T, which believe it or not is not a new all-time record. Fundamentalists would expect such rapid debt increases to drive the US Dollar down into the pits, but the USD actually gained in December.

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