Tuesday, August 7, 2018
Consumers Hold Back On Adding To Debt
Consumers credit came in below expectations, up $10.2 B in June as
consumers held back from adding to their credit-card debt and even paid
off some of it following a spending spree in the previous month.
Revolving credit, which includes credit cards and which posted the
biggest increase since November in the previous month, fell $0.2 billion
in June. Nonrevolving credit, which tracks both vehicle financing as
well as student loans, rose a moderate $10.4 billion. The decline in
revolving credit suggests the consumer is back to the prudent spending
habits characteristic of most the months in the first half of the year.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment