Credit: Fed Reserve Cleveland

Per the Federal Reserve Bank of Cleveland:

Total consumer credit outstanding surged in November, increasing $20.4 billion (0.8 percent) to $2.478 trillion on a seasonally adjusted basis, representing the largest one month increase in total consumer credit since November 2001. November’s performance marks the tenth time in eleven months that consumer credit has risen. Moreover, on a year-over-year basis, total consumer credit has increased 3.2 percent. The increased appetite for consumer debt is a positive sign that suggests consumers have a more confident economic outlook. Driven by strong automobile sales in November, growth in total consumer credit continues to be concentrated in nonrevolving accounts, which rose 0.9 percent in November and are up 4.7 percent on a year-over-year basis. Revolving accounts also surged in November, increasing 0.7 percent; however, on a year-over-year basis, revolving accounts were flat.

What gets me is that swing from the last 36 months that shows a real sustained nudge towards returning consumer confidence in credit products.