Keeping you up to date on the latest data releases.
- Consumer Credit
Consumer credit continued to grow in February, rising 0.32 percent. However, on a year-over-year basis, consumer credit declined 0.65 percent. Non-revolving accounts continued to drive growth in consumer credit, improving 0.64 percent in February and marking the seventh consecutive monthly increase. The continued improvement in non-revolving accounts is likely attributed to strong auto sales, which grew 27.5 percent on a seasonally adjusted year-over-year basis in February. Consumers avoided using their credit cards and other short term loans in February as revolving accounts declined for the second consecutive month, falling 0.34 percent. On a year-over-year basis, revolving accounts are down 6.22 percent.