Keeping you up to date on the latest data releases.
- Consumer Credit
Total consumer credit rose by 3 percent at an annual rate in June, down from the 7.8 percent posted in May (which has been revised down from 8 percent). This smallest increase since October is the sum of a 7.2 percent rise in nonrevolving credit and a 5.1 percent fall in revolving credit. That decline in revolving credit stands in sharp contrast to its increase of 10.5 percent in May. Still on an annualized basis, total consumer credit rose by 5 percent during the second quarter of this year, which is about average compared to the past few quarters and a full percentage point above the growth which occurred during 2011. As for outstanding credit, it reached $2,577.4 billion in June, the sum of $864.6 billion in revolving credit and $1,712.8 billion in nonrevolving credit.