US consumer credit rises $9.513 billion versus $15 billion estimate

Author: Greg Michalowski | Category: News

US consumer credit for the month of September 2019

the US consumer credit for the month of September rose by $9.513 billion which was a less than the $15 billion estimate.
  • The prior month was revised slightly lower $217.842 billion from $17.901 billion
  • the rise is the slowest pace since June 2018
  • borrowing increased at a 2.8% annualized rate which was the slowest since June 2018
  • revolving debt which includes credit card debt declined $1.1 billion after falling $2.2 billion in the previous month.
  • Nonrevolving debt increased by $10.6 billion which is the smallest gain in 4 months. This came after a $20 billion gain in August
The consumer is downshifting a little in the current month but before we can make a big judgment that they are really worried, the total credit increased at an annualized 4.9% in the 3rd quarter which was the fastest growth rate since the 4th quarter of 2018.  
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