Consumer Credit in United States

Measures the monthly change in US consumer credit (revolving loans such as credit cards, and non-revolving loans such as car or student loans), excluding loans secured by real estate. Published by the Federal Reserve, it reflects households' appetite to spend and their access to credit.

The Federal Reserve aggregates the consumer credit balances reported by banks, credit unions, finance companies and other lenders, seasonally adjusted. The headline is the net monthly flow in billions of dollars (the change in the outstanding balance from the previous month).

A larger-than-expected flow suggests stronger consumption funded by debt (positive for near-term activity, though it can raise concerns about household over-indebtedness); a weak or negative flow points to consumer caution or tighter credit conditions, watched closely given its link to household spending.

It excludes mortgages and home-equity loans (such as HELOCs). It is volatile month to month and subject to significant revisions in later releases, so the trend matters more than any single reading.