April Consumer Credit Preview
April Consumer Credit will be released shortly and is expected to increase $7bln after growing $15.3bln, or 7.2%, in March.
Use of revolving credit (e.g. credit cards) increased $6.3bln in March and non-revolving credit (e.g. student loans) grew by $9bln in March.
The March number was especially high for that time of year, as borrowing doesn’t usually pick up until the summer. Analysts expect the April number to be more consistent with historical data. Consumer credit data have been volatile of late, so March may have been an outlier.