Last Update: 06-Dec-19 15:16 ET
credit increased by $18.90 bln in October (Briefing.com consensus $17.30 bln)
after increasing an upwardly revised $9.60 bln (from $9.50 bln) in September.
- Nonrevolving credit increased by $11 bln in
October to $3.077 trln.
- Revolving credit increased by $7.90 bln in
October to $1.089 trln.
- Consumer credit increased at a seasonally
adjusted annual rate of 5.50%, with revolving credit increasing at an annual
rate of 8.75% and nonrevolving credit increasing at an annual rate of 4.25%.
- The key takeaway from the report is that the October
increase was fairly evenly distributed between nonrevolving credit like student
or auto loans and revolving credit like credit cards.