Last Update: 08-Jul-15 19:08 ET
- Consumer credit increased by $16.1 bln in May after increasing an upwardly revised $21.4 bln (from $20.5 bln) in April. The Briefing.com Consensus expected consumer credit to increase by $18.2 bln.
- There are generally sizable revisions to the consumer credit data before the final numbers are released. Any future revision, however, is unlikely to materially impact the current trend.
- Revolving credit increased by $1.6 bln in May, from $899.4 bln in April to $901.0 bln.
- Nonrevolving credit increased to $2,500.0 bln in May from $2,485.5 bln in April, a gain of $14.5 bln.
- Consumer credit has increased by an average of $17.3 bln each month over the past 12 months.