Keeping you up to date on the latest data releases.
Total consumer credit broke a 10-month upward trend to decline 0.4 percent in August. On a year-over-year basis, total consumer credit improved by 2.1 percent. Declines in consumer credit were primarily in nonrevolving accounts, which had the largest monthly drop in nearly three years, falling 0.4 percent from July. However, compared to August 2010, revolving credit is up 4.6 percent. Revolving credit contracted 0.3 percent from July and is down 2.8 percent from this time last year.