Consumer Credit In August first appeared on Floating Path.
Total consumer credit outstanding increased in August at a seasonally adjusted annual rate of 5.0%, or by $13.6 billion. Consumer credit totaled $3,247.0 billion during the month.
Revolving credit, which is generally credit cards, decreased at an annual rate of 0.3%, or by $0.2 billion. Total revolving credit outstanding was $880.3 billion.
Nonrevolving credit, or installment credit, which is primarily student and auto loans, increased at an annual rate of 7.0%, or by $13.8 billion. Total nonrevolving credit outstanding was $2,366.7 billion.
As noted before, revolving credit growth has stagnated since the recession began in 2008.
The chart below shows how the holders of consumer credit outstanding has changed over time.