Last Update: 09-Jul-14 13:27 ET
- Consumer credit increased by $19.6 bln in May after increasing a downwardly revised $26.1 bln (from $21.8 bln) in April. The Briefing.com consensus expected consumer credit to increase by $16.1 bln.
- Consumer credit typically goes through large monthly revisions, but any future revision is unlikely to alter the current trend of double-digit credit growth.
- Revolving credit increased by $1.8 bln, from $870.4 bln in April to $872.2 bln in May.
- Nonrevolving credit increased to $2,322.4 bln in May from $2,304.6 bln in April, a gain of $17.8 bln.
- Consumer credit has increased by nearly $20 bln per month in 2014.