Last Update: 07-Apr-15 15:20 ET
- Consumer credit increased by $15.5 bln in February after increasing by a downwardly revised $10.8 bln (from $11.6 bln) in January. The Briefing.com Consensus expected consumer credit to increase by $12.5 bln.
- Typically, consumer credit goes through sizable revisions before the final numbers are released. Any future revision, however, is unlikely to alter the current trends.
- Revolving credit declined by $3.7 bln, from $888.5 bln in January to $884.8 bln in February. That was the second consecutive monthly decline.
- Nonrevolving credit increased to $2,458.6 bln in February from $2,439.4 bln in January, a gain of $19.2 bln. That was the largest increase in nonrevolving credit since February 2012 when it increased by $24.7 bln.
- Consumer credit has increased by an average of $17.8 bln each month over the past 12 months.