Consumer Credit, Lead By The Non-Revolving Sector, Rises In February

Consumer credit rose $17.2 billion in February with January revised higher to $14.9 billion. Nonrevolving credit, reflecting gains for vehicle financing and student loans, rose $14.2 billion with revolving credit, where credit-cards are tracked, pulling up the rear as usual as with a gain of $2.9 billion. The lack of gains for revolving credit is good in the sense that it points to consumer wherewithal but negative relative to short-term consumer spending.

Recent History Of This Indicator:
Consumer credit is expected to rise $14.0 billion in February following a $10.5 billion gain in January that was held down by a dip for revolving credit which, however, had been showing life in prior reports. Nonrevolving credit, boosted by vehicle sales and also by student loans, is the stronger of the two components.