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Markets · October 8, 2026 · 1 min read

Fed: August consumer credit grows at 1.9 percent annual rate as revolving credit falls

By Econ Data Tools Editorial Team

Published October 8, 2026 • Updated October 8, 2026

Reviewed by source verification

The October 7 G.19 release reports annualized growth, not a 1.9 percent monthly gain. Revolving credit fell at a 4.2 percent annual rate; nonrevolving credit rose 4.1 percent.

The Federal Reserve's October 7, 2026 G.19 release reports that consumer credit increased at a seasonally adjusted annual rate of 1.9 percent in August. Revolving credit decreased at a 4.2 percent annual rate, while nonrevolving credit increased at a 4.1 percent annual rate. These are annualized rates for a monthly observation, not changes of that size within a single month. The release marks August figures preliminary and June and July figures revised. Percent changes are calculated from unrounded data and adjusted to exclude breaks in the series. Seasonally adjusted total credit outstanding was $5,196.8 billion in August. Revolving balances were $1,352.4 billion and nonrevolving balances were $3,844.4 billion. These are outstanding balances, not household income or monthly consumer spending. The measure covers most credit extended to individuals but excludes loans secured by real estate. Nonrevolving credit includes motor vehicle loans and other borrowing such as education loans. Mortgage borrowing therefore is not included in this headline. A decline in revolving balances alone does not establish why households changed their borrowing, whether credit access tightened or whether financial distress increased. The report provides credit levels and changes, not a causal test of consumer confidence or a probability for the next Federal Reserve policy decision.

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