Updated: 06-Oct-17 15:41 ET
|Updated: 06-Oct-17 15:41 ET
- Total outstanding consumer credit increased by $13.1 billion in August (Briefing.com consensus $16.0 billion) after increasing a downwardly revised $17.7 billion (from $18.5 billion) in July.
- The growth in August was driven by nonrevolving credit, which was up $7.3 billion from June to $2.766 trillion, and revolving credit, which increased by $5.7 billion to $999.7 billion.
- Consumer credit increased at a seasonally adjusted annual rate of 4.25% in August with revolving credit increasing at an annual rate of 7.00% and nonrevolving credit increasing at an annual rate of 3.25%.