JULY CONSUMER CREDIT RISES $4.6BLN
Consumer Credit Rose $4.6bln or 2.12% in July, lower than the $8.5bln expected and following a downwardly revised $11bln increase in June (previosuly reported as $14.3bln).
July Revolving Creidt(e.g. credit cards) rose $3.9bln or 4.82%, following a $2.8bln increase in June, which was initially reported at $5.5bln.
July Non-Revolving Credit(e.g.student and auto loans) grew 0.5% or 678mln compared to a $8.1bln rise in June which was previously reported at $8.8bln.
The interest rate for new car loans issued at auto finance companies fell to 3.31% in July following a 5.49% rate offered in June.