- U.S. consumer credit increased by $17B in July, according to the Federal Reserve, smaller than the $37.9B increase recorded in June and trailing the expected increase of $25B.
- Total outstanding consumer credit of $4.33T in July rose from $4.31T in the prior month.
- Revolving credit of $998.4, which includes credit card debt, increased from $992.8B in June, while non-revolving debt of $3.33T, which includes auto and student loans, rose from $3.32T in June.
- Consumer credit increased at a seasonally adjusted annual rate of 4.7%, slowing from the 10.6% rate in June. Revolving credit rose at an annual rate of 6.7%, and nonrevolving credit increased at an annual rate of 4.1%.
- Previously, (August 6) Consumer credit climbs more than anticipated in June.
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Wednesday, September 8, 2021
Consumer credit increases less than expected in July
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