US consumer credit for December 2022 comes in $11.56 billion. That is much less than the $25 billion expected. However the prior month was revised to $33.11 billion from $27.96 billion previously reported last month.
- Revolving credit fell to $7.201 billion from $15.299 billion last month
- Non-revolving credit fell to $4.364 billion from $17.808 billion last month
- consumer credit is up 2.9% versus 8.4% last month
- revolving credit is up 7.3% versus 15.6% last month
- nonrevolving credit is up 1.5% versus 6.0% last month
There seems to be some downshifting in spending on credit. However the data can be quite volatile. Nevertheless this is the lowest since January 2022. Moreover, it is near the low of the pre-pandemic range (see red horizontal lines on the chart above)