Consumers were not shy about loading up on the cards in May. The latest data from the Federal Reserve, released Monday (July 8), show that overall, consumer credit rose $11.3 billion in June, far outstripping the $6.5 billion gain on an absolute and annualized basis....
The Federal Reserve released numbers this week that showed an annual percentage rate increase of 3.1 percent as measured in June, a moderated pace from the previous month when that pace was 7.5 percent. Takeaway 1: The Credit Pace Slows The latest tally also showed...
August 07, 2024
Consumers’ total outstanding credit increased by $8.9 billion in June, with a rise in non-revolving credit partially offset by a decline in revolving credit. Non-revolving credit increased by $10.6 billion during the month, while revolving credit declined by $1.7 billion, the Federal Reserve said Wednesday (Aug. 7) in its monthly report on outstanding consumer credit. In terms of percentages, […]
