Showing posts with label strong. Show all posts
Showing posts with label strong. Show all posts
Thursday, March 27, 2014
Consumer Credit Continued Strong Growth in November
Consumer credit continued its recent surge in November, rising $16 billion over the previous month’s level. As has been the case for some time, the majority of the growth in consumer credit is driven by gains in non-revolving credit. Consumer credit has now gained more than $10 billion per month for the past four months, after a surprise decline in July.
The gains in revolving credit were relatively modest, gaining $800 million over the month. Revolving credit has been up and down throughout 2012, rising in six and falling in five of the months.
Non-revolving credit continues to drive overall growth, rising 10.1% in November ($15.2 billion). November marks the 15th consecutive gain for non-revolvoing balances. Non-revolving debt growth has been driven primarily by growth in student loans, accounting for 62% of the growth in non-revolving credit on a non-seasonally adjusted basis.
Read the Fed release.
ReadThe RestEntry..
The gains in revolving credit were relatively modest, gaining $800 million over the month. Revolving credit has been up and down throughout 2012, rising in six and falling in five of the months.
Non-revolving credit continues to drive overall growth, rising 10.1% in November ($15.2 billion). November marks the 15th consecutive gain for non-revolvoing balances. Non-revolving debt growth has been driven primarily by growth in student loans, accounting for 62% of the growth in non-revolving credit on a non-seasonally adjusted basis.
Read the Fed release.
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