Last Update: 05-Dec-14 15:14 ET
- Consumer credit increased by $13.2 bln in October, down from a negatively revised $15.5 bln (from $15.9 bln) in September. The Briefing.com consensus expected consumer credit to increase by $16.5 bln.
- Credit has now increased by at least $10.0 bln for the last 11 consecutive months.
- Typically, consumer credit goes through substantial revisions before the final number is released. Any future revision is unlikely to alter the current growth trend.
- Revolving credit increased by $1.0 bln, from $881.6 bln in September to $882.6 bln in October.
- Nonrevolving credit increased to $2,396.3 bln in October from $2,384.0 bln in September, a gain of $12.3 bln.
- Consumer credit has increased by an average of $18.1 bln per month in 2014.