Consumer credit rises less than expected again in August

• U.S. consumer credit increased by $14.4B in August vs. expectations of $17.5B and smaller than the $17.2B increase in the previous month.
• Total outstanding consumer credit of $4.35T in August compares with $4.33T in the prior month.
• Revolving credit of $1.00T, which includes credit card debt, increased from $998.6B in July, while non-revolving debt of $3.35T, which includes auto and student loans, climbed from $3.33T in the month before.
• Consumer credit increased at a seasonally adjusted annual rate of 4.0%; revolving credit grew at 3.6% annual rate; non-revolving credit increased at 4.1%.
• Previously, Consumer credit increases less than expected in July.