Loading...
Market
Will US consumer credit increase by more than $20 billion in August 2024?
4
Resolution / Starting Odds
Yes • 50%
No • 50%
Federal Reserve's monthly consumer credit report
Story
US Consumer Credit Hits Record High with $25.452 Billion Surge in July
Sep 9, 2024, 07:41 PM
Consumer credit in the United States surged significantly in July 2024, rising by $25.452 billion, the largest monthly increase since November 2022. The Federal Reserve reported that consumer credit grew by 6.0%, with revolving credit, primarily from credit cards, increasing by 9.4% and non-revolving credit up by 4.8% on a seasonally adjusted annual rate (SAAR). This increase far exceeded the forecast of $11.2 billion and the expected $10.4 billion. The rise in consumer credit reflects a broader trend of Americans relying more heavily on credit to sustain spending amid economic uncertainties. The significant jump in borrowing, which marked a record high, is seen as a potential indicator of financial stress, with concerns about the sustainability of this reliance on debt.
View original story
Similar markets
Less than $10 billion • 25%
$10 billion to $20 billion • 25%
$20 billion to $30 billion • 25%
More than $30 billion • 25%
Less than $10 billion • 25%
$10 billion to $20 billion • 25%
$20 billion to $30 billion • 25%
More than $30 billion • 25%
Less than $10 billion • 25%
$10 billion to $20 billion • 25%
$20 billion to $30 billion • 25%
More than $30 billion • 25%
Less than $10 billion • 25%
$10 billion to $20 billion • 25%
$20 billion to $30 billion • 25%
More than $30 billion • 25%
Less than 4% • 25%
4% to 6% • 25%
6% to 8% • 25%
More than 8% • 25%
Less than 5% • 25%
5% to 7% • 25%
7% to 9% • 25%
More than 9% • 25%
