In April 2024, the volume of consumer lending in the United States was 1.52 percent higher than in the same period of the previous year. During economic recessions, the overall volume of credit tends to decrease. The lowest annual drops in the value of consumer loans were in June 2009, coinciding with the economic crisis of 2007, and in April 2020, during the start of the COVID-19 pandemic.
Percentage change on previous year of total consumer credit in the United States from January 2007 to April 2023
Characteristic
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St. Louis Fed. (June 7, 2024). Percentage change on previous year of total consumer credit in the United States from January 2007 to April 2023 [Graph]. In Statista. Retrieved July 27, 2024, from https://www.statista.com/statistics/1326943/consumer-credit-change-in-usa/
St. Louis Fed. "Percentage change on previous year of total consumer credit in the United States from January 2007 to April 2023." Chart. June 7, 2024. Statista. Accessed July 27, 2024. https://www.statista.com/statistics/1326943/consumer-credit-change-in-usa/
St. Louis Fed. (2024). Percentage change on previous year of total consumer credit in the United States from January 2007 to April 2023. Statista. Statista Inc.. Accessed: July 27, 2024. https://www.statista.com/statistics/1326943/consumer-credit-change-in-usa/
St. Louis Fed. "Percentage Change on Previous Year of Total Consumer Credit in The United States from January 2007 to April 2023." Statista, Statista Inc., 7 Jun 2024, https://www.statista.com/statistics/1326943/consumer-credit-change-in-usa/
St. Louis Fed, Percentage change on previous year of total consumer credit in the United States from January 2007 to April 2023 Statista, https://www.statista.com/statistics/1326943/consumer-credit-change-in-usa/ (last visited July 27, 2024)
Percentage change on previous year of total consumer credit in the United States from January 2007 to April 2023 [Graph], St. Louis Fed, June 7, 2024. [Online]. Available: https://www.statista.com/statistics/1326943/consumer-credit-change-in-usa/