Keeping you up to date on the latest data releases.
- Consumer Credit
Consumer credit rose for the fourth consecutive month, increasing 0.2 percent in January. The growth in credit was driven by an increase in non-revolving account balances, which were up 0.6 percent in January and are up on a year-over-year basis 1.6 percent. The strength in non-revolving account growth was attributed to a reduction in auto loan write-offs. Revolving accounts continued their decline, falling 0.5 percent in January and are down 7.2 percent on a year-over-year basis. Revolving account balances had fallen for twenty-seven consecutive months before increasing 0.25 percent in December.