Consumer Credit Growth Rebounds In October

Date : 12/06/2019 @ 8:30PM
Source : Dow Jones News

Consumer Credit Growth Rebounds In October

By Kate Davidson

WASHINGTON--Americans ramped up their pace of borrowing in October after a sharp slowdown the previous month, the Federal Reserve said Friday, a sign that households are continuing to spend amid robust job growth.

Here are some key details from the report:

--Outstanding consumer credit, a measure of debt excluding loans secured by real estate, rose at a 5.47% seasonally adjusted annual rate. It was the fastest pace of growth since July.

--The total amount rose $18.91 billion in October from the previous month. Economists surveyed by The Wall Street Journal had expected a $13.5 billion increase.

--Consumer credit rose a revised $9.58 billion in September from August, up slightly from the initial reading, the Fed said.

--Revolving credit outstanding, which is made up mostly of credit card debt, climbed at an 8.78% seasonally adjusted annual rate in October, after edging up 0.21% in September and falling in August.

--Nonrevolving credit outstanding, made up mostly of auto and student loans, increased at a 4.31% annual rate.

Write to Kate Davidson at


(END) Dow Jones Newswires

December 06, 2019 15:15 ET (20:15 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

Your Recent History
Gulf Keyst..
FTSE 100
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.