JUNE CONSUMER CREDIT UP $14.3bln
Consumer Credit rose $14.3bln or 6.6% in June, more than doubling expectations and following an upwardly revised $8.1bln rise in May (previously reported as $7.8bln).
The use of revolving credit, such as credit cards, rose $5.5bln, or 6.9%, following May’s $6.1bln rise, which was initially reported as a $5.7bln increase.
Non-revolving credit use (e.g. student and auto loans) increased $8.8bln or 6.6%. That is compared to a $2bln rise in May, previously reported as $2.1bln.