Consumer Credit Higher Than Expected

Revolving credit has been on the rise indicating less reluctance among consumers to run up their credit cards and helping to lift consumer credit to a higher-than-expected gain of $20.5 billion in October. Revolving credit rose $8.3 billion in the month to $1.01 trillion total for the biggest monthly gain since November last year. Whether this reflects more than just a rising spending appetite but a decline in credit standards is a question that isn't likely to haunt retailers during the holidays who are hoping for a very strong season. Nonrevolving credit, which tracks vehicle financing and also student loans, rose $12.2 billion in the month to $2.79 trillion.

Recent History Of This Indicator:
Revolving credit has been on the rise which may be a positive for the holiday shopping outlook but a negative perhaps for credit standards. After increasing a sharp $20.8 billion in September, consumer credit is expected to rise $17.3 billion in October.