Partly reflecting a sharp jump in non-revolving credit, the Federal Reserve released a report on Friday showing that U.S. consumer credit increased by much more than expected in September.
The report said consumer credit surged up by $28.9 billion in September after climbing by $16.0 billion in August. Economists had expected credit to increase by about $18.0 billion.
The bigger than expected was partly due to the jump in non-revolving credit such as student loans and car loans, which soared by $22.2 billion in September after rising by $12.0 billion in August.
Revolving credit, which largely reflects credit card debt, also rose by $6.7 billion in September after edging up by $4.0 billion in the previous month.
The report also said consumer credit increased by an annual rate of 10.0 percent in September, as non-revolving and revolving credit jumped by 10.5 percent and 8.7 percent, respectively.
For comments and feedback contact: editorial@rttnews.com
Economic News
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.