US consumer credit for the month of April 2020
US consumer credit for the month of April came in at -$68.77 billion vs. $-20 billion estimate. The prior month came in at $-11.5 billion. It was previously reported at $-12 billion.
- Revolving credit fell by $-58.3 billion vs. $-26.2 billion last month. The annual changes $-64.9 billion. Revolving credit is credit card debt
- nonrevolving credit fell by $-10.5 billion vs. plus $14.7 billion last month. That is a -4.0% annual change.
- The total flows fell by $-825.4 billion as consumers cut back on spending.
I guess people spend a lot going out for dinner and a movie....
