- Total outstanding consumer credit increased by $17.0 billion in January (Briefing.com consensus $17.0 billion) after increasing a revised $15.4 billion (from $16.5 billion) in December.
- Nonrevolving credit increased by $14.5 billion to $2,976.9 billion.
- Revolving credit increased by $2.5 billion to $1,055.5 billion.
- Consumer credit increased at a seasonally adjusted annual rate of 5.0%.
- Revolving credit increased at a seasonally adjusted annual rate of 3.0% while nonrevolving credit increased at an annual rate of 6.0%.
- Once again, credit growth was rooted in nonrevolving debt, like car loans and student loans, while revolving credit (credit cards) expanded at a more muted pace.