USA - Household debt rose to $11.71 trillion in the third quarter.

This Is What $11.71 Trillion Worth Of Household Debt Looks Like

by Myles Udland

Household debt rose to $11.71 trillion in the third quarter. 

According to the New York Federal Reserve's latest Household Debt and Credit report, household debt in the third quarter rose 0.7%, or $78 billion, to $11.71 trillion, up from $11.62 trillion in the second quarter.

Overall, household debt is below its $12.68 trillion peak reached in the third quarter of 2008.

"Outstanding household debt, led by increases in auto loans, student loans and credit card balances, has steadily trended upward in recent quarters," said Wilbert van der Klaauw, senior vice president and economist at the New York Fed. "In light of these data, it appears that the deleveraging period has come to an end and households are borrowing more."

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