LIVE MARKETS-Charging into the holidays: Consumer credit outstanding
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CHARGING INTO THE HOLIDAYS: CONSUMER CREDIT OUTSTANDING
U.S. consumers appear to have exercised a bit of caution in the approach to the holiday shopping season.
Late Friday, the Federal Reserve released its outstanding consumer credit report USCRED=ECI, which showed American consumers - responsible for around 70% of the U.S. economy - increased their debt by $9.18 billion in October.
That marks a 16.6% deceleration from September and lands $1.32 billion to the south of consensus.
Peeking under the hood, big-ticket items such as auto loans and tuition - or non-revolving credit - was responsible for the slowdown, rising by 1.2% after gaining 2.1% the previous month.
Revolving credit, which includes credit card debt, actually picked up, rising 4.9% compared with September's 4.0%.
The bifurcation of the U.S. consumer has gained some scrutiny in recent months, evidenced by survey data from the Conference Board and the University of Michigan, among others. It shows wealthier Americans continue to spend, while those at the lower end are being pinched by rising costs.
Total outstanding revolving credit is at $1.32 trillion, off 2.5% from where it was a year ago, and with consumer expectations wallowing near COVID-era lows and a saving rate (the unspent share of disposable income) sitting at a paltry 4.7%, the worry is that lower income consumers are increasingly putting essentials on plastic.
(Stephen Culp)
EARLIER LIVE MARKETS POSTS:
FED HEAD: STOCKS MIXED IN EARLY GOING, TECH OUT FRONT CLICK HERE
INFLATION CRUCIAL FOR MARKETS NEXT YEAR – BOFA CLICK HERE
US INVESTORS GET MOST BANG FOR BUCK BEYOND WALL ST CLICK HERE
EVERYTHING IS POINTING HIGHER, FOR NOW CLICK HERE
SWISS FRANC COULD GET A REALITY CHECK CLICK HERE
WHAT TO WATCH OUT FOR FROM THE 'AI ORACLE' THIS WEEK CLICK HERE
NUDGING DOWN CLICK HERE
EUROPE BEFORE THE BELL: WATCH RATE SENSITIVE SECTORS CLICK HERE
FUTURES TRY FOR A FED FAIT ACCOMPLI CLICK HERE
Opening snapshot https://www.reuters.com/graphics/USA-STOCKS/klpyjqmwkvg/opener.png
Consumer credit outstanding 
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