Friday, March 6, 2015

Consumer Credit Grew 4.2% (SAAR) in January

Consumer credit increased at a seasonally adjusted annual rate of 4.2% in January to $3.3 trillion. Revolving credit contracted 1.6% ($888 billion) and non-revolving credit increased by 6.3% ($2.4 trillion).

Total outstanding consumer credit increased by $11.6 billion. Total outstanding nonrevolving credit increased by $12.7 billion, while outstanding revolving credit decreased by $1.1 billion

Federal Government holdings of student loans continue to be the largest portion of non-revolving credit, making up 35% of outstanding credit. Finance companies and depository institutions are the secondary holders of non-revolving credit, each holding approximately 25%. Depository institutions continue to be the primary holder of revolving credit, holding 82%.

Read the Federal Reserve release.

No comments:

Post a Comment

Please read our comment policy before making a comment.