U.S. Consumer Debt Hits $17.1 Trillion Consumer debt in the United States has continued to rise, reaching $17.1 trillion in 2023, up from $16.38 trillion in 2022, according to an Experian study. This trend persists across all regions and generations, despite a brief decrease during the COVID-19 pandemic. However, experts like Joseph Mayans from Experian suggest that when adjusted for recent rapid income growth, overall debt loads remain below pre-pandemic levels and are historically low. While the growth rate of consumer debt slowed in 2023, it still indicates an ongoing pattern of increased borrowing among Americans, with credit card debt being a particular area of concern for some analysts. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Gold Beans: The New Investment Craze Among China's Youth READ MORE Southeast Asian Consumers Turn to Gold as Economic Shield READ MORE US Continuing Jobless Claims Hit Two-Year High, Signaling Labor Market Shift READ MORE Economic Indicators Misfire: No Recession Despite Warning Signs READ MORE Central Bankers Converge at Jackson Hole Amid Rate Cut Speculation READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment