Last Update: 02-Jul-15 16:46 ET
- Consumer credit increased by $20.5 bln in April after increasing an upwardly revised $21.3 bln (from $20.5 bln) in March. The Briefing.com Consensus expected consumer credit to increase by $16.8 bln.
- That was the first time that consumer credit increased by more than $20 bln in two consecutive months since August and September 2000.
- Consumer credit typically goes through sizable revisions before the final numbers are released. Any future revision is unlikely to materially impact current growth trends.
- Revolving credit increased by $8.6 bln, from $889.5 bln in March to $890.9 bln in April.
- Nonrevolving credit increased to $2,485.0 bln in April from $2,473.0 bln in March, a gain of $11.9 bln.
- Consumer credit has increased by an average of $17.5 bln each month over the past 12 months.