Updated: 05-Apr-24 15:20 ET
| February Consumer Credit |
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| Updated: 05-Apr-24 15:20 ET |
Highlights
- Consumer credit increased by $14.1 bln in February (Briefing.com consensus $10.0 bln) following a downwardly revised $17.7 bln (from $19.5 bln) in January.
Key Factors
- Revolving credit increased by $11.3 bln in February to $1.339 trln.
- Nonrevolving credit increased by $2.9 bln to $3.712 trln.
- Consumer credit increased at a seasonally adjusted annual rate of 3.4% in February.
- Revolving credit increased at an annual rate of 10.2%. Nonrevolving credit increased at an annual rate of 0.9%.
Big Picture
- The key takeaway from the report is that the bulk of the credit expansion in February was driven by revolving credit.
| Category | FEB | JAN | DEC | NOV | OCT |
| Total Credit | $14.1B | $17.7B | $3.2B | $17.8B | $8.9B |
| Revolving | $11.3B | $8.6B | $4.2B | $14.5B | $5.6B |
| Nonrevolving | $2.9B | $9.1B | -$1.0B | $3.3B | $3.3B |