Americans kept swiping, financing, and borrowing in September, pushing consumer credit up by $20.733 billion. That figure handily beat the consensus forecast of roughly $18 billion.
The data comes from the Federal Reserve’s G.19 Consumer Credit report, the monthly snapshot that tracks outstanding credit extended to individuals. It covers both revolving credit (think credit cards) and nonrevolving credit (auto loans, student loans, personal loans), but notably excludes anything secured by real estate.
What the numbers actually tell us
The forecast was $18 billion, meaning actual borrowing came in roughly 15% higher than what economists expected.
As of April 2026, consumer credit was expanding at a 4.8% annualized rate. Revolving credit alone was growing at an annualized clip of 10.4%.
