[TSP_Strategy] US Consumer Credit

 

Charts of the Week

U.S. Consumer Credit

Chart of the Week for August 10, 2018 - August 16, 2018

The U.S. Federal Reserve Board publishes monthly data on consumer credit based on a survey of commercial banks, consumer finance companies, credit unions, and retailers. The report represents loans for households, for financing purchases of goods and services as well as refinancing existing consumer debt. The chart above shows the month-end amount of total U.S. Consumer Credit (in billions) over the past year.

For June 2018, consumer credit grew by $10.2 billion, which was below the consensus expectation of $16 billon, and below May's increase of $24.5 billon. On a year-over-year basis, consumer credit grew by 4.7%. Revolving credit, primarily credit card use for purchases or cash advances, fell for only the second month in 2018. Economists note that increasing interest rates may be negatively impacting revolving credit. Non-revolving credit, primarily auto, student, and personal loans, rose in June and has increased every month since April 2011. Economists expect continued growth in consumer credit, but the impact of potentially even higher interest rates may slow future credit growth.

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