United States Total Household Debt

Info

History

Chart

Impact:

Low

Source: Federal Reserve Bank of New York

Latest Release:

Date:

Actual:

$18.2T

Forecast:

Previous/Revision:

$18.04T

Period: Q1

Next Release:

Date:

Period: Q2

What Does It Measure?

The Total Household Debt indicator measures the total outstanding balances on all types of household debt in the United States, including mortgages, credit card debt, auto loans, and student loans. This indicator primarily focuses on household financial health, assessing aspects like consumption capacity, credit risk, and overall economic stability.

Frequency

Total Household Debt data is published quarterly, with preliminary estimates often available a few weeks after the end of each quarter and final figures released later, usually within a couple of months.

Why Do Traders Care?

Traders monitor Total Household Debt as it provides insights into consumer spending potential and financial health, influencing expectations for economic growth and monetary policy. High levels of household debt can suggest increased borrowing costs, impacting asset classes such as currencies, stocks, and bonds due to potential changes in consumer behavior and central bank actions.

What Is It Derived From?

The Total Household Debt figure is derived from various financial institutions' reporting data, surveys conducted by the Federal Reserve, and the comprehensive analysis of household balance sheets. This includes data on outstanding loans, credit use, and repayment patterns, with a focus on entities like banks, credit unions, and other credit providers.

Description

This indicator distinguishes between different types of debt and illustrates trends over time, capturing shifts in household financial behavior. It is often reviewed alongside other economic indicators, such as savings rates or consumer credit, to provide context on consumer spending capacity and economic resilience.

Additional Notes

Total Household Debt is considered a lagging economic measure, reflecting past borrowing behaviors rather than predicting future trends. It correlates with broader economic indicators regarding personal savings, disposable income, and consumer confidence, highlighting the interplay between household finances and overall economic health.

Bullish or Bearish for Currency and Stocks

Higher than expected: Bearish for USD, Bearish for Stocks. Lower than expected: Bullish for USD, Bullish for Stocks. A dovish tone signifying lower interest rates or economic support is usually good for the USD but bad for Stocks due to cheaper borrowing costs.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number	Better than forecast for the currency (or previous revise better)
Red Number	Worse than forecast for the currency (or previous revise better)
Hawkish	Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish	Favors lower rates to boost growth, weakening the currency but lifting stocks.

Date	Actual	Previous
May 13, 2025	$18.2T	$18.04T
Feb 13, 2025	$18.04T	$17.9T
Nov 13, 2024	$17.9T	$17.8T
Aug 06, 2024	$17.8T	$17.7T
May 14, 2024	$17.7T	$17.5T
Feb 06, 2024	$17.5T	$17.29T
Nov 07, 2023	$17.29T	$17.06T
Aug 08, 2023	$17.06T	$17.05T