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Economic indicators

Consumer credit jumps in July

By   Chip Barnett
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September 10, 2018, 3:55 p.m. EDT 1 Min Read

Consumer credit increased a more than expected $16.64 billion in July to $3.908 trillion, the Federal Reserve reported Monday.

Economists polled by IFR Markets predicted a $13.0 billion increase during the month.

The Marriner S. Eccles Federal Reserve building stands in Washington, D.C., U.S., on Tuesday, Jan. 27, 2015. The Federal Reserve Board joins with the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation in pushing for higher capital requirements for large banks.
The Marriner S. Eccles Federal Reserve building stands in Washington, D.C., U.S., on Tuesday, Jan. 27, 2015. The Federal Reserve Board joins with the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation in pushing for higher capital requirements for large banks.
Bloomberg News

In June, consumer credit rose $8.5 billion to $3.91 billion, originally reported as a $10.2 billion rise.

Revolving credit outstanding rose $1.3 billion in July after a $1.2 billion drop in June.

Non-revolving credit outstanding rose $15.4 billion in July after a $9.6 billion gain in June.

Revolving credit includes credit card debt. Non-revolving debt includes automobile loans, loans for mobile homes, education, boats, trailers, or vacations.

Chip Barnett
Reporter, The Bond Buyer
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