Better than 18 billion expected
- Non revolving credit rises by 22.23 billion. This is the most since July 2011
- Revolving credit rises by 6.69B (vs 4.03 bln last month). This was the highest in 3 months.
For the year, consumer credit is up 10.0% with revolving credit up 8.7% and Non-revolving credit up 10.5%.
The consumer is opening up there pocket books as jobs situations improve. We saw car sales this week to over 18M for the 2nd consecutive month. More car sales, more credit used to buy cars.
