US Consumer Credit UP 7.9% YoY In November While Personal Savings Collapses -64.8% YoY – Confounded Interest – Anthony B. Sanders

January 11, 2023

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January 10, 2023

1 Minute

As we are painfully aware, inflation is still high at 7.1% Year-over-year (YoY). To cope with inflation, consumers have been gutting their savings and increasing their use of credit. In November, consumer credit increased 7.9% YoY while personal savings fell -64.8% YoY.