The Consumer Credit measures the change in the total value of outstanding consumer credit released by The Federal Reserve Bank on a monthly basis, issued on the fifth business day of each month. It covers several types of credit, credit cards, personal loans, car loans, student loans and the loans may be secured or unsecured, while the credit can be revolving or non-revolving. Higher than expected readings are considered bullish and positive for the US Dollar, as the consumers feel more optimistic, take more credit and increase spending, which can lead to a higher economic growth in terms of GDP. The only exception in reported Consumer Spending Outstanding are loans secured by real estate, which are not included in the reading.
The United States Consumer Credit
The United States Consumer Credit latest reading was on 10th July 2017 for the month of May 2017. The reading was $18.410 billion, higher than the expectation of $13.500 billion and the previous reading of $12.929 billion. In May, consumer credit increased at a seasonally adjusted annual rate of 5-3/4 percent. Revolving credit increased at an annual rate of 8-3/4 percent, while non-revolving credit increased at an annual rate of 4-3/4 percent. Historically the Consumer Credit in US had an average of $4.73 billion from 1950 until 2017. The Consumer Credit reached the all-time high price of $118.60 billion in December of 2010. The all-time low price of -$17.80 billion was in June of 2009.
