The unexpected growth of consumer loans in the United States increased by $25.5 billion, marking the largest increase since the end of 2022

Consumer borrowing in the United States increased by $25.5 billion in July, marking the largest increase since November 2022. Federal Reserve data shows that outstanding credit, including revolving and non-revolving debt, has significantly risen, with credit card debt increasing by $10.6 billion and non-revolving credit such as auto loans surging by $14.8 billion. While the growth in borrowing is driving retail sales up, high interest rates and credit card balances may pose risks to future spending. The proportion of newly delinquent auto and credit card loans has reached a new high since 2010, indicating an increase in consumer credit risk