Last Update: 05-Apr-19 15:26 ET
- Total outstanding consumer credit increased by $15.2 billion in February (Briefing.com consensus $18.0 billion) after increasing an upwardly revised $17.7 billion (from $17.0 billion) in January.
- Nonrevolving credit increased by $12.2 billion to $2,984.8 billion.
- Revolving credit increased by $3.0 billion to $1,061.0 billion. Consumer credit increased at a seasonally adjusted annual rate of 4.5%.
- Revolving credit increased at a seasonally adjusted annual rate of 3.25% while nonrevolving credit increased at an annual rate of 5.0%.
- 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.