Updated: 05-Apr-24 15:20 ET
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Updated: 05-Apr-24 15:20 ET |
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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 |