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Bailout
: Calculated RiskConsumer Credit Declines in July
By Anonymous
In July, total consumer credit decreased at an annual rate of 1-3/4 percent. Revolving credit decreased at an annual rate of 6-1/4
percent, and nonrevolving credit increased at an annual rate of 1/2 percent.
Click on graph for larger image in new window.This graph shows the increase in consumer credit since 1978. The amounts are nominal (not inflation adjusted).
Revolving credit (credit card debt) is off 15.2% from the peak. Non-revolving debt (auto, furniture, and other loans) is off 1.1% from the peak. Note: Consumer credit does not include real estate debt.
Full post as published by Calculated Risk on September 08, 2010 (boomark / email).
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