Keeping you up to date on the latest data releases.
- Consumer Credit
Total consumer credit outstanding continued to improve at a healthy pace in December, increasing 0.8 percent on a seasonally-adjusted basis to $2.5 trillion. December’s improvement follows an upwardly revised increase of 0.9 percent in November and marks the fourth consecutive month that total consumer credit has grown. Compared to December 2010, total consumer credit is up 3.7 percent, the largest increase since August 2008. Nonrevolving consumer credit continues to be the main driver behind total consumer credit growth. In December, nonrevolving accounts rose 1.0 percent, representing the largest one-month increase since February 2005. Moreover, on a year-over-year basis, nonrevolving consumer credit is up 5.5 percent. Finally, revolving accounts continued to grow in December, increasing 0.4 percent and are up 0.1 percent on a year-over-year basis.