- the source for market opinions


August 7, 2018 | Consumer Credit Up 3.1%, Revolving Credit Unexpectedly Declines

Mike 'Mish' Shedlock

Mike Shedlock / Mish is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.
After a blistering May, revolving credit fell 0.2% in June as overall credit continued its upward march.

I prefer to go straight to the source.

The Fed G.19 Report shows consumer credit rose 3.1% in June, with nonrevolving credit up 4.4% and revolving credit down 0.2%.

In May, consumers went on a credit spree. Total credit rose 7.5%, nonrevolving credit 6.2%, and and revolving credit rose a whopping 11.2%.

In April, total credit rose 3.2%, nonrevolving credit 1.0%, and revolving credit 4.0%.

The surge in consumer credit early in the quarter explains the strong second-quarter GDP.

Revolving credit, primarily credit cards, now totals $1.038 trillion. Nonrevolving credit such as mortgages, auto loans, and student loans totals a whopping $2.868 trillion.

Party on dudes.

Mike “Mish” Shedlock

STAY INFORMED! Receive our Weekly Recap of thought provoking articles, podcasts, and radio delivered to your inbox for FREE! Sign up here for the Weekly Recap.

August 7th, 2018

Posted In: Mish Talk

Previous: «

Post a Comment:

Your email address will not be published.

All Comments are moderated before appearing on the site


This site uses Akismet to reduce spam. Learn how your comment data is processed.