FX.co ★ US Consumer Credit Growth Cools Sharply in January 2026

Consumer credit growth in the United States slowed markedly at the start of 2026, signaling a potential shift in household borrowing behavior after a strong year-end surge. In January 2026, consumer credit increased by $8.05 billion, a sharp deceleration from the $25.20 billion expansion recorded in December 2025.

The latest figures, updated on 6 March 2026, suggest that American consumers may be turning more cautious after the holiday season, when borrowing typically spikes. The pullback in January could reflect seasonal normalization in credit use, but the scale of the slowdown compared with the prior month highlights a notable cooling in the pace of debt accumulation.

While the data do not detail the breakdown between revolving and non-revolving credit, the headline figure underscores a more restrained start to the year for consumer borrowing. Market participants and policymakers will be watching subsequent months closely to see whether January’s weaker reading proves to be a temporary pause or the beginning of a more sustained moderation in credit growth.