- US: Advance Durable Goods, Advance Trade & Inventories (Mar)
- Canada: Payroll Employment, Earnings, & Hours (Feb)
- Canada: Payroll Employment Earnings & Hours (Feb)
- Spain: Advanced HICP & CPI, Construction Business Survey Press (Apr)
- Belgium: CPI (Apr)
- Brazil: PPI (Mar)
- Germany: GfK Consumer Climate Survey, State CPI: Bavaria, Saxony, Berlin, Hesse, North Rhine-Westphalia, Brandenburg (Apr)
- Building Permits (Feb)
- more updates...
Economy in Brief
U.S. Gasoline Prices Are Little-Changed; Crude Oil Falls
Regular gasoline prices of $2.45 per gallon last week (13.3% y/y)...
Japan's METI Indexes Show Ongoing Gains
The services sector is assessed by the METI indexes where it is named the 'tertiary sector.' That sector index rose to 104.1 in February...
U.S. New Home Sales & Prices Strengthen
Sales of new single-family homes increased 5.8% (15.6% y/y) during March to 621,000...
U.S. Consumer Confidence Backpedals
The Conference Board Consumer Confidence Index fell 3.7% during April (+27.0% y/y) to 120.3...
U.S. FHFA House Price Index Regains Strength
The FHFA U.S. house prices increased 0.8% during February (6.5% y/y)...
French Manufacturing and Service Sectors Weaken But Stay on Trend or Hold Recent Gains
The French manufacturing sector trend index is down to 1 in April from 3 in March...
by Carol Stone January 8, 2016
Consumer credit outstanding increased $14.0 billion in November after October's $15.6 billion, which was revised from $16.0 billion. Action Economics Forecast Survey participants looked for an $18.3 billion increase. During the last ten years, there has been a 46% correlation between the y/y growth in consumer credit and y/y growth in personal consumption expenditures.
Nonrevolving credit borrowing grew by $8.3 billion in November (7.6% y/y). Federal government loans (36.1% of that total) increased 12.4% y/y. Finance company balances (24.1% of the nonrevolving credit amount) rose 1.9%. Borrowing at depository institutions (25% of this total) increased 6.1% y/y, and borrowing at credit unions (11.1% of the total) advanced 12.8% y/y. Nonprofit & educational institution loans (1.8% of the total) declined 12.1% y/y, and nonfinancial business loans (0.8% of the total) were flat y/y.
Revolving consumer credit in November grew $5.7 billion, up 4.9% y/y. These credit card balances at depository institutions (83.3% of this total) increased 6.8% y/y. Finance company holdings (6.3% of the total) fell 5.3% y/y, while borrowing from credit unions (5.4% of the total) advanced 7.5% y/y. Nonfinancial business credit (2.3% of the total) fell 3.3% y/y, and securitized credit card balances (2.7% of the total) declined 14.7% y/y.
These Federal Reserve Board figures are break-adjusted and calculated by Haver Analytics. There is a break in the credit outstanding data from November 2010 to December 2010 due to the Fed's benchmarking process. Benchmark estimates are based on the Census of Finance Companies (CFC) and the Survey of Finance Companies (SFC) conducted in 2010 and 2011, respectively.
The consumer credit data are available in Haver's USECON database. The Action Economics figures are contained in the AS1REPNA database.
|Consumer Credit Outstanding (M/M Chg, SA)||Nov||Oct||Sep||Y/Y||2014||2013||2012|
|Total||$14.0 bil.||$15.6 bil.||$28.7 bil.||6.8%||7.0%||6.0%||6.1%|