Keeping you up to date on the latest data releases.
- Consumer Credit
Total consumer credit outstanding rose for the sixth consecutive month in July, improving 0.5 percent. On a year-over-year basis, consumer credit outstanding rose 2.3 percent. Gains in consumer credit were concentrated in nonrevolving accounts, which rose 0.9 percent in July and are up 5.2 percent on a year-over-year basis. Nonrevolving accounts typically consist of auto sales and other big-ticket items that require financing. Comparatively, consumer credit in the form of revolving accounts contracted 0.4 percent and is down 3.3 percent on a year-over-year basis.