Last Update: 07-Nov-18 15:20 ET
- Total outstanding consumer credit increased by $11.0 billion in September after increasing an upwardly revised $22.8 billion (from $20.1 billion) in August.
- The jump in consumer credit was driven entirely by nonrevolving credit, which increased by $11.2 billion to $2908.9 billion.
- Revolving credit decreased by $0.3 billion to $1041.1 billion.
- Consumer credit increased at a seasonally adjusted annual rate of 3.25% in September.
- The key takeaway from the report is that it reflects a deceleration in credit expansion that could contribute to concerns about the U.S. economy hitting/nearing peak growth.