Last Update: 08-Jul-19 15:23 ET
- Consumer credit increased by $17.1 billion in May (Briefing.com consensus $17.7 billion) on the heels of an unrevised $17.5 billion in April.
- Nonrevolving credit increased by $9.9 billion in May to $3.016 trillion.
- Revolving credit increased by $7.2 billion to $1.072 trillion.
- Consumer credit increased at a seasonally adjusted annual rate of 5%, with revolving credit increasing at an annual rate of 8.25% and nonrevolving credit increasing at an annual rate of 4%.
- The key takeaway from the report is that the increase was driven by growth in both nonrevolving and revolving credit.