Last Update: 17-Apr-14 18:13 ET
- Consumer credit increased by $16.5 bln in February after increasing a slightly upwardly revised $13.8 bln (from $13.7 bln) in January. That was the largest monthly expansion since October 2013. The Briefing.com consensus expected consumer credit to increase by $14.3 bln.
- Typically, consumer credit is a volatile measure that often goes through substantial revisions before the final data are released. The revisions to January, however, were much milder than normal.
- Revolving credit declined for a second consecutive month. Credit fell $2.4 bln to $854.2 bln in February from $856.6 bln in January.
- Nonrevolving credit increased by $18.9 bln, from $2,256.4 bln in January to $2,275.3 bln in February. Nonrevolving credit has expanded for the past 30 consecutive months and 45 out of the last 46 months.
- Consumer has increased by more than $10 bln per month for 10 out of the last 11 months.