Last Update: 06-Dec-13 15:10 ET
- Consumer credit increased by $18.2 bln in October after increasing an upwardly revised $16.3 bln (from $13.7 bln) in September. The Briefing.com consensus expected consumer credit to increase by $15.8 bln.
- Credit has increased by more than $10 bln for each of the last seven consecutive months.
- Consumer credit is a volatile measure and often goes through sizable revisions before the final data are released. It is unlikely that future revisions will alter current trends.
- Revolving credit increased by $4.3 bln in October to $856.8 bln. Credit contracted by $0.2 bln in September. Positive revisions to August and July data flipped previously reported contractions into expansions.
- Nonrevolving credit increased by $13.9 bln in October to $2,219.2 bln. That as down from a $16.5 bln gain in September. Nonrevolving credit has expanded for the past 26 consecutive months and 40 out of the last 41 months.
- Consumer credit trends remain strong.