Keeping you up to date on the latest data releases.
- Consumer Credit
Total consumer credit outstanding rose for the eighth consecutive month in May, increasing 0.21 percent. The improvement follows a downwardly revised increase of 0.24 percent in April. On a year-over-year basis, total consumer credit outstanding rose for the second consecutive month, increasing 1.0 percent. May’s improvement was likely driven by the increase in revolving accounts, which rose 0.42 percent (the first monthly increase in revolving credit outstanding since December of 2010). Non-revolving accounts rose 0.11 percent in May, following a 0.40 percent increase in April. The slowdown in non-revolving consumer credit in May was likely driven by lower auto sales, which fell from a seasonally-adjusted annual rate of 13.1 million units in April to a seasonally-adjusted annual rate of 11.8 million units in May.