Updated: 07-Oct-24 15:24 ET
| August Consumer Credit |
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| Updated: 07-Oct-24 15:24 ET |
Highlights
- Consumer credit increased by $8.9 billion in August (Briefing.com consensus $12.7 billion) after increasing a revised $26.7 billion (from $25.5 billion) in July.
Key Factors
- Revolving credit decreased by $1.4 billion to $1.358 trillion.
- Nonrevolving credit increased by $10.3 billion to $3.740 trillion.
- Consumer credit increased at a seasonally adjusted annual rate of 2.1%. Revolving credit decreased at an annual rate of 1.2% while nonrevolving credit increased at an annual rate of 3.3%.
Big Picture
- The key takeaway from the report is that revolving credit decreased, suggesting the presence of increased caution among consumers.
| Category | AUG | JUL | JUN | MAY | APR |
| Total Credit | $8.9B | $26.7B | $5.2B | $11.7B | $3.7B |
| Revolving | -$1.4B | $10.6B | -$0.4B | $8.5B | $0.8B |
| Nonrevolving | $10.3B | $16.1B | $5.6B | $3.2B | $2.9B |