- Japan: Index of Business Conditions (Feb-Final), Electric Power Generated (Jan)
- Spain: Services Sector Activity, New Orders and Turnovers (Feb)
- Finland: PPI, Domestic Supply Prices (Mar)
- US: NABE Business Conditions Survey (Q1)
- Indonesia: Non-Oil and Gas Trade (Feb); Taiwan: Labor Market (Mar)
- Egypt: IP (Feb)
- more updates...
Economy in Brief
Fresh Six-Year PMI Highs for Euro Area
The 'fresh six-year high' is a pleasant surprise that continues, but...
Philadelphia Fed Factory Conditions Soften
The Philadelphia Fed reported that its General Factory Sector Business Conditions Index fell to 22.0 during April...
U.S. Leading Economic Indicators Suggest Continued Expansion
The Conference Board's Composite Index of Leading Economic Indicators increased 0.4% (3.5% y/y) during March...
U.S. Initial Unemployment Insurance Applications Increase
Initial unemployment claims for unemployment insurance rose to 244,000 during the week ended April 15 (-5.1% y/y)...
Japan's 'Trade Trends' Stabilize on an Unstable Foundation
Japan trade trends, broadly considered, seem to be stabilizing...
U.S. Mortgage Loan Applications Fall
The MBA total Mortgage Applications Volume Index declined 1.8% last week (-24.9% y/y)...
by Tom Moeller June 7, 2016
Consumer credit outstanding increased $13.4 billion during April following a $28.4 billion March surge, revised from $29.7 billion. A $19.0 billion increase had been expected in the Action Economics Forecast Survey. 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 $11.8 billion (6.5% y/y) after a $17.9 billion jump, revised from $18.6 billion. Federal government loans (36% of the total) increased 11.2% y/y. Finance company balances (24% of the total) eased 1.2% y/y. Borrowing at depository institutions (25% of the total) improved 5.3% y/y, and borrowing at credit unions (11% of the total) jumped 15.0% y/y. Nonprofit & educational institution loans (2% of the total) declined 9.0% y/y, and nonfinancial business loans (1% of the total) remained unchanged y/y.
Revolving consumer credit increased $1.6 billion following a $10.4 billion rise, last month reported as $11.1 billion. Balances at depository institutions (84% of the total) grew 7.9% y/y. Finance company holdings (6% of the total) fell 6.4% y/y, while borrowing from credit unions (5% of the total) advanced 7.1% y/y. Nonfinancial business credit (2% of the total) fell 5.4% y/y, and securitized credit card balances (3% of the total) declined 16.5% 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)||Apr||Mar||Feb||Y/Y||2015||2014||2013|
|Total||$13.4 bil.||$28.4 bil.||$12.9 bil.||6.2%||6.5%||7.2%||6.0%|