Last Update: 07-Nov-14 15:12 ET
- Consumer credit increased by $15.9 bln in September, up from an upwardly revised $14.1 bln (from $13.5 bln) in August. The Briefing.com consensus expected consumer credit to increase by $16.0 bln.
- That was the 10th consecutive month that consumer credit expanded by more than $10 bln.
- Typically, consumer credit goes through large monthly revisions, but any future revision is unlikely to alter the current growth trend.
- Revolving credit increased to $881.8 bln in September from $880.3 bln in August, a gain of $1.4 bln.
- Nonrevolving credit increased by $14.5 bln in September to $2,385.2 bln from $2,370.7 bln in August.
- Consumer credit has increased by an average of $18.8 bln per month in 2014.