Last Update: 07-Aug-19 15:23 ET
credit increased by $14.6 bln in June (Briefing.com consensus $16.5 bln) after
increasing a revised $17.8 bln (from $17.1 bln) in May.
- Nonrevolving credit increased by $14.7 bln in
June to $3.030 trln.
- Revolving credit decreased by $100 mln in June
to $1.0715 trln.
- Consumer credit increased at a seasonally
adjusted annual rate of 5%, with revolving credit increasing at an annual rate
of 5.25% and nonrevolving credit increasing at an annual rate of 4.75%.
- The key takeaway from the report is that the June increase
in consumer credit was driven entirely by growth in nonrevolving credit, like
auto and student loans. This marks a return to a dynamic that was seen earlier