Wednesday, July 8, 2015

Consumer Credit Grew 5.7% (SAAR) in May

Consumer credit increased at a seasonally adjusted annual rate (SAAR) of 5.7% in May to $3.40 trillion. Revolving credit rose at an annual rate of 2.1% to (to $901 billion) and non-revolving credit increased at an annual rate of 7.0% to ($2.50 trillion).

Total outstanding consumer credit increased by $16.1 billion, down $5.3 billion from the previous month’s increase. Total outstanding non-revolving credit increased by $14.5 billion, up from $12.9 billion in April. Outstanding revolving credit increased by $1.6 billion, a much slower pace than April’s $8.5 billion.

Read the Federal Reserve release.

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