Consumer Credit Increases At Annual Rate Of 9.7% In July first appeared on Floating Path

Total consumer credit outstanding increased in July at a seasonally adjusted annual rate of 9.7%, or by $26.0 billion. Consumer credit totaled $3,237.7 billion during the month.

Revolving credit, which is generally credit cards, increased at an annual rate of 10.6%, or by $5.4 billion. Total revolving credit outstanding was $880.5 billion.

Nonrevolving credit, or installment credit, which is primarily student and auto loans, increased at an annual rate of 8.4%, or by $20.6 billion. Total nonrevolving credit outstanding was $2,357.1 billion.

consumer credit

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As noted before, despite the increase this month, revolving credit growth has stagnated since the recession began in 2008.

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The chart below shows how the holders of consumer credit outstanding has changed over time.

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