- US: Advance Durable Goods, Advance Trade & Inventories (Mar)
- Brazil: PPI (Mar); Mexico: Compensation and Productivity (Feb)
- Canada: Payroll Employment, Earnings, & Hours (Feb)
- Spain: Advanced HICP & CPI, Construction Business Survey Press (Apr)
- Belgium: CPI (Apr)
- Germany: GfK Consumer Climate Survey, State CPI: Bavaria, Saxony, Berlin, Hesse, North Rhine-Westphalia, Brandenburg (Apr)
- Building Permits (Feb)
- UK: Motor Vehicle Production (Mar)
- 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 Tom Moeller January 9, 2017
Consumer credit outstanding increased $24.5 billion during November (6.7% y/y) following a $16.2 billion October rise, revised from $16.0 billion. An $18.2 billion increase had been expected in the Action Economics Forecast Survey. Over the past ten years, there has been a 46% correlation between the y/y growth in consumer credit and y/y growth in personal consumption expenditures.
Revolving consumer credit surged $11.0 billion (6.4% y/y) after a $2.4 billion rise. It was the largest monthly gain since March. Balances at depository institutions (84% of the total) jumped m/m, and accelerated to 8.3% y/y. Finance company holdings (6% of the total) fell 5.2% y/y, while borrowing from credit unions (5% of the total) advanced 7.5% y/y.
Nonrevolving credit advanced $13.5 billion (6.8% y/y) after a $13.8 billion increase. Federal government loans (37% of the total) rose 10.7% y/y. Finance company balances (23% of the total) fell 1.9% y/y. Borrowing from depository institutions (25% of the total) improved 5.1% y/y, and borrowing from credit unions (12% of the total) strengthened 13.7% 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||2015||2014||2013|
|Total||$24.5 bil.||$16.2 bil.||$21.2 bil.||6.7%||7.0%||7.2%||6.0%|