Monday, July 9, 2018
Consumer Credit Rises Sharply On Revolving Credit
Consumers ran up credit-card debt very sharply in May driving up total
credit by $24.6 billion which tops Econoday's consensus range by $2
billion. Revolving credit, where prior gains have been subdued, rose
$9.8 billion for the biggest increase since November last year.
Nonrevolving credit, which tracks both vehicle financing as well as
student loans, rose an intrend $14.8 billion in the month. The rise in
revolving credit may not be a plus for household wealth but it is a plus
for consumer spending which has been moderate so far this year.
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