Last Update: 07-Feb-18 15:19 ET
- Total outstanding consumer credit increased by $18.4 billion in December (Briefing.com consensus $20.0 billion) after increasing an upwardly revised $31.0 billion (from $28.0 billion) in November.
- The growth in December was driven by nonrevolving credit, which was up $13.4 billion from November to $2.813 trillion. Revolving credit increased by $5.1 billion to $1.028 trillion.
- Consumer credit increased at a seasonally adjusted annual rate of 5.75% in December
- For the fourth quarter, consumer credit increased at a seasonally adjusted annual rate of 7.75%, with revolving credit increasing at an annual rate of 9.75% and nonrevolving credit increasing at an annual rate of 7.0%.