Last Update: 07-Aug-18 15:28 ET
- Total outstanding consumer credit increased by $10.2 billion in June (Briefing.com consensus $15.5 billion) after increasing a downwardly revised $24.3 billion (from $24.5 billion) in May.
- The credit expansion in June was driven entirely by nonrevolving credit.
- Revolving credit decreased by $0.2 billion from May to $1038.75 billion. That was the first decrease in revolving credit since March and only the third decrease in nearly five years.
- Nonrevolving credit increased by $10.4 billion to $2868.8 billion.
- Consumer credit increased at a seasonally adjusted annual rate of 4.50% during the second quarter, with revolving credit increasing at an annual rate of 4.0% and nonrevolving credit increasing at an annual rate of 5.0%. In June, consumer credit increased at an annual rate of 3.0%.