Keeping you up to date on the latest data releases.
- Consumer Credit
Total consumer credit fell in July by 1.5 percent at an annual rate, down from the 5.3 percent annualized increase in June. This is the first time consumer credit has shrunk since August 2011. This fall in total consumer credit is the combination of an increase in nonrevolving credit by approximately $1.6 billion ($1,852.9 billion to $1,854.5 billion) which was offset by a decrease in revolving credit of approximately $4.8 billion ($855.5 billion to $850.7 billion). On an year over year basis, total consumer credit is still up 4.4 percent compared to July of last year.