US consumer credit for February rises by $27.57 billion versus $2.8 billion estimate
US consumer credit for February 2021The US consumer credit for February 2021 search by $27.578B vs $2.8 billion estimate. The number represents the highest gain since $29.225 billion in November 2017.
- Revolving credit rose $8.1 billion to $0.974 trillion. Revolving credit includes credit cards, personal lines of credit and home equity lines of credit (HELOCs)
- Non revolving credit rose $19.5 billion to $3.231 trillion. Examples are student loans and auto loans that can't be used again once they've been repaid.
The revolving credit increase reverses a $8.6 billion decrease in January and may be weather related somehow. It may also be a reversal of the pay downs seen over the last 11 months where 10 of the last 11 months have seen negative changes.
In contrast non-revolving credit has increased in each of the last 10 months. The gains this month is the largest since 21.223B in June of 2020