Broker Check

Market Review: June 2023

July 18, 2023

PACE OF GROWTH IN PRIVATE CONSUMER CREDIT SLOWS IN THE US


US consumer borrowing has slowed to a more than two-year low in May 2023, reflecting the first decline in non-revolving credit since the onset of the covid-19 pandemic. According to US Federal Reserve data, total credit rose to $7.2Bn, the smallest advance since November 2020.

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