US consumer credit for the month of April 2019
- prior report
- prior month revised up to $11.031 billion from $10.281 billion
- Revolving credit rose $6.96 billion verse revised -$1.99 billion decrease in March (previously $-2.18 billion
- Non-revolving credit rose $10.54 billion verse revised $13.02 billion increase in March (previously plus $12.46 billion)
- consumer credit rose 5.2% annualized pace
- revolving credit rose 7.9% annually
- nonrevolving credit rose 4.2% annually
- The gain was most in 5 months
THe solid job market is booming consumer spending despite uncertainty from trade war potential (despite the lower job reading this month).
Revolving credit is a proxy for credit card debt.
Nonrevolving debt largely consists of school loans and auto loans.
The consumer credit report does not track debt secured by real estate such as home equity lines of credit and home mortgages
