Friday, December 5, 2014

Consumer Credit Grew 4.9% (SAAR) in October

Consumer credit increased at a seasonally adjusted annual rate of 4.9% in October to $3.28 trillion. The growth rate was 1.3% for revolving credit (to $883 billion) and 6.2% for non-revolving credit (to $2.4 trillion).

Total outstanding consumer credit increased by $13.2 billion. Total outstanding non-revolving credit increased by $12.3 billion, while total outstanding revolving credit increased by $1 billion.

The Federal Government continues to be the primary holder of non-revolving credit, holding 35%, followed by finance companies and depository institutions, which hold 26% and 25%, respectively. Depository institutions continue to be the primary holder of revolving credit, holding 82%.

Read the Federal Reserve release.

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