In December, consumer credit in the United States saw its largest increase in a year, exceeding economists' expectations.

Consumer credit in the United States saw the largest increase in a year in December, reflecting increases in both revolving credit and non-revolving credit. Data released by the Federal Reserve on Friday showed that outstanding consumer credit increased by $24 billion, compared to an increase of $4.7 billion the previous month. This figure exceeded the expectations of all surveyed economists. Non-revolving credit, such as loans for cars and tuition payments, increased by $10.2 billion in December, the largest increase in seven months. Meanwhile, revolving credit, such as credit card debt, increased by $13.8 billion, the largest monthly increase in over two years. The report does not include mortgage loans.