Economic Charts

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Thursday, October 7, 2010

Monthly Consumer Credit

The consumer credit m/m (does not include real estate) is a measurement of change in the total value of outstanding consumer credit that requires installment payments.  It's considered to be correlated with consumer spending and confidence.  A rising debt levels are a sign that lenders feel comfortable issuing loans and consumers are comfortable spending money. The forecast was for a -2.9 Billion reduction in consumer credit, but actually decreased by -3.3 Billion which was down less than the previous month of a revised -4.1 Billion.  This was interpreted as negative to the economy, as consumer credit reduced more than expected.  This means that consumers are not spending as much as they were, a problem for a spend more economy.  Revolving credit reduced by 0.6% and non-revolving credit increased 0.1%.

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