Consumer Credit In August [CHARTS]

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Consumer Credit In August [CHARTS]

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.

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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.

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As noted before, 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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