· Consumer
credit outstanding rose $14.3B during June following moderate $8.0 and
$9.0 billion increases during the prior two months.
· On a percentage basis, the change in consumer credit over the last three months averaged 5.0% (AR) and that was roughly stable. The rate of gain was, however, up from 3.3% this passed February.
· Revolving credit
outstanding rose $5.5B during June. Here again, the three month rate of
growth of 5.0% recently has been stable but reduced from a 7.4% rise
during all of last year.
· Non-revolving credit, which accounts for nearly two thirds of total consumer credit, rose a sharp $8.9B in June. The three month annualized average growth rate, however, was 5.0% and that was up from a 2.2% growth rate in February, 4.7% growth during all of last year and 3.6% growth in 2004.
· These figures are the major input to the Fed's Flow of Funds accounts for the household sector, released quarterly.
· Credit card debt and payment use from the Federal Reserve Bank of Boston can be found here.