US consumer credit bounced back strongly in December, increasing at an annual rate of 9.6%, or an increase of $40.85 billion (vs $12.35 billion expected) after falling at a -1.3% rate in November. This increase was the largest since June 2021.

• Revolving credit balances grew at a 20.2% annual rate, bouncing from a -12.1% rate in November
• Nonrevolving credit balances were up at a solid 5.8% rate