Need To Know News

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.

June Consumer Credit is expected to increase $6.3bln after growing $7.8bln, or 3.6%, in May.

Use of revolving credit (e.g. credit cards) increased rose $5.7bln in May after a marginal increase in April. Non-revolving credit (e.g. student loans) rose $2.1bln, after rising $8.2bln in April.

April’s revolving credit number was particularly low, likely reflecting seasonal factors since borrowing doesn’t typically pick up until summertime. May’s number was back on track, and June’s should be as well given that consumer spending data held up over the period.

June Consumer Credit is expected to increase $6.3bln after growing $7.8bln, or 3.6%, in May.

Use of revolving credit (e.g. credit cards) increased rose $5.7bln in May after a marginal increase in April. Non-revolving credit (e.g. student loans) rose $2.1bln, after rising $8.2bln in April.

April’s revolving credit number was particularly low, likely reflecting seasonal factors since borrowing doesn’t typically pick up until summertime. May’s number was back on track, and June’s should be as well given that consumer spending data held up over the period.

Consumer Credit rose $7.8bln or 3.6% in May, in line with expectations and following a downwardly revised $7.8bln rise the prior month (previously reported as $8.9bln).

The use of revolving credit, such as credit cards, rose $5.7bln, or 7.1%, following April’s $424.3mln decline, which was initially reported as a $300mln increase.

Non-revolving credit use (e.g. student and auto loans) increased $2.1bln or 1.6%. That compared to a $8.2bln rise in April, previously reported as $8.6bln.

May Consumer Credit is expected to increase $7.3bln after growing $8.9bln, or 4.2%, in April.

Use of revolving credit (e.g. credit cards) increased only $300.4mln in April, or 0.4%, following a $5.8bln increase in March. Non-revolving credit (e.g. student loans) rose $8.6bln, or 6.5%, after increasing $7.3bln the prior month.

April’s revolving credit number was fairly low, likely reflecting seasonal factors since borrowing doesn’t typically pick up until summertime. Since consumer spending data have held up over the period, if May’s borrowing is similarly muted, data may be painting a picture of consumers switching from credit cards to cash — no surprise in the current environment, with consumer confidence near all-time lows.

May Consumer Credit is expected to increase $7.3bln after growing $8.9bln, or 4.2%, in April.

Use of revolving credit (e.g. credit cards) increased only $300.4mln in April, or 0.4%, following a $5.8bln increase in March. Non-revolving credit (e.g. student loans) rose $8.6bln, or 6.5%, after increasing $7.3bln the prior month.

April’s revolving credit number was fairly low, likely reflecting seasonal factors since borrowing doesn’t typically pick up until summertime. Since consumer spending data have held up over the period, if May’s borrowing is similarly muted, data may be painting a picture of consumers switching from credit cards to cash — no surprise in the current environment, with consumer confidence near all-time lows.

Consumer Credit rose $8.9bln or 4.2% in April after a downwardly revised $13.1bln uptick in March (originally reported as $15.3bln).

The increase was larger than the $7.2bln analysts were expecting.

The use of revolving credit, such as credit cards, increased only $300.4mln, or 0.4%, following a $5.8bln increase in March, previously reported as a $6.3bln rise.

Non-revolving credit use, for boat, car, and education loans, rose $8.6bln, or 6.5%, after increasing $7.3bln the prior month, previously reported as a $9bln jump.

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.

April Consumer Credit will be released at 3:00pm EDT tomorrow 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.

Mar. Consumer Credit rose $15.3bln, the biggest increase since Nov. and more than twice analysts’ expectations.

The increase followed an upwardly revised $6.5bln uptick in Feb., previously reported as $5.2bln.

The use of revolving credit, such as credit cards, increased by $6.3bln, or 7.9%, in Mar. following a $4.7bln rise the previous month.

Non-revolving credit use, for items such as car, boat, and education loans, edged up $9bln, or 7%, after increasing an upwardly revised 2% in Feb.