Quarterly Report on Household Debt and Credit
Federal Reserve Bank of New York
Download Document| Date Published | 2014 |
| Version | |
| Primary Author | Federal Reserve Bank of New York |
| Other Authors | |
| Theme | |
| Country | United States |
Abstract
Aggregate consumer debt increased in the fourth quarter by $241 billion, the largest quarter to quarter increase seen since the third quarter of 2007. As of December 31, 2013, total consumer indebtedness was $11.52 trillion, up by 2.1% from its level in the third quarter of 2013. The four quarters ending on December 31, 2013 were the first since late 2008 to register an increase ($180 billion or 1.6%) in total debt outstanding. Nonetheless, overall consumer debt remains 9.1% below its 2008Q3 peak of $12.68 trillion.