Last Update: 21-May-15 17:40 ET
- Total outstanding consumer credit increased by $20.5 bln in March after increasing a downwardly revised $14.8 bln (from $15.5 bln) in February. The Briefing.com Consensus expected consumer credit to increase by $16.0 bln.
- That was the biggest increase in consumer credit since a gain of $21.5 bln in July 2014.
- Typically, consumer credit goes through sizable revisions before the final numbers are released. Any future revision is unlikely to materially impact current trends.
- Revolving credit increased by $4.4 bln, from $885.1 bln in February to $889.4 bln in March.
- Nonrevolving credit increased to $2,474.9 bln in March from $2,457.7 bln in February, a gain of $16.2 bln.
- Consumer credit has increased by an average of $18.0 bln each month over the past 12 months.