- Consumer credit increased by $13.7 bln in January after increasing a downwardly revised $15.9 bln (from $18.8 bln) in December. The Briefing.com consensus expected consumer credit to increase by $11.8 bln in January.
- Consumer credit is a volatile measure that often goes through substantial revisions before the final data are released. Any future revisions are unlikely to alter the current double-digit growth trends.
- Revolving credit fell by $0.3 bln, from $856.5 bln in December to $856.2 bln in January.
- Nonrevolving credit increased by $14.0 bln to $2,256.1 bln in January. Nonrevolving credit has expanded for the past 29 consecutive months and 44 out of the last 45 months.
- Consumer credit trends remain strong.