📈 U.S. Credit Card Debt Rises, Yet Remains Lower Relative to Consumption than Pre-Pandemic Levels

U.S. credit card debt grew by 30%, from $0.88 trillion in 2019 to $1.14 trillion by Q2 2024. However, personal consumption expenditures and retail trade and food services both increased at a faster pace—by 36% and 37%, respectively—resulting in a lower ratio of credit card debt to consumer spending compared to pre-pandemic levels.