US Consumer credit change in September
- The gain is the most since November 2016
- US Consumer credit for September rose by $20.83 billion versus $17.5 billion estimate
- Last month credit increased by $13.141 billion- revised from $13.065B
- Revolving credit rises 6.4 billion versus revised $5.52B (was $5.76B)
- Nonrevolving credit rose by$14.32 billion versus revised $7.62 billion (was $7.31B).
- Credit card debt exceeded 1 trillion for the first time
- credit debt outstanding grew at an annualized 5.5%
- The September acceleration in nonrevolving debt likely reflected a jump in motor vehicle purchases as consumers and hurricane stricken areas replaced damaged autos
- As home values and stock prices have climbed, generating more wealth for some Americans, other households with fewer assets may find it difficult to boost their spending as her debt burdens mount
- Lending my federal government - mostly student loans - increased by 35.2 billion
- loans for autos rose by 19.3 billion
