Total outstanding U.S. consumer debt stood at $5.10 trillion for the third quarter of 2024, increasing at an annualized rate of 3.28% (seasonally adjusted), according to the Federal Reserve’s G.19 Consumer Credit Report. In general, consumer debt has been slowing over the past two years, peaking at a high rate of 9.16% in the second quarter of 2022. However, the third quarter of 2024 experienced an uptick in growth from the previous quarter’s rate of 1.14%.

 

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U.S. Consumer Debt Rises to $5.1 Trillion in the Third Quarter