US: Expect steady expansion in consumer credit in the near term - Nomura

With strong consumer fundamentals of the US economy, analysts at Nomura continue to expect steady expansion in consumer credit in the near term.

Key Quotes

“In November, consumer credit expanded sharply by $28bn, with healthy increases in both revolving and non-revolving credit. A strong $16.8bn increase in non-revolving debt coincided with a pick-up in vehicle sales. Rising household financial gains combined with healthy labor market conditions should support another robust increase in consumer credit in December.”