10/09/18

US Consumer Credit Hits All Time High As Credit Card Usage Stalls



----
US Consumer Credit Hits All Time High As Credit Card Usage Stalls
// RSS

Two months after a near record surge in consumer credit driven by a spike in credit card debt, the US consumer went into a period hibernation to start the summer, when total consumer credit rose by just $8.5 billion in June, with revolving, or credit card debt posting only its second contraction since 2013. Then moments ago, the Fed reported that in July, consumer credit posted a solid rebound, rising by $16.6 billion, above the $14.4 billion expected, and bringing the total to $3.92 trillion, a 5.1% annualized increase from a year ago.

Of this increase, the bulk was from non-revolving credit, or auto and student loans, which ...

Posta un commento