Prior month $10.923B revised to $11.57B
US consumer credit rose in October by the most in almost a year. The numbers topped expectations.
- Consumer credit rose by $25.384 billion versus $15.0 billion expected
- the prior month was revised to $11.6B from $10.923B
- revolving credit increased by $9.2B, after a -$310M decline last month (credit card)
- Non revolving debt climbed $16.2B after rising $11.9B in the prior month
That is a healthy number and suggests the consumer is stretched and is charging, or confident in the employment situation going forward.
