US consumer credit rose by $27.57 billion for February much higher than a $2.8 billion estimate. This was the highest gain since $29.225 billion in November 2017. Revolving credit increased at an annual rate of 10.1 percent.
US consumer credit rose by $27.57 billion for February much higher than a $2.8 billion estimate. This was the highest gain since $29.225 billion in November 2017. Revolving credit increased at an annual rate of 10.1 percent.
US consumer credit for February 2021
- The US consumer credit rose by $27.578B vs $2.8 billion estimate.
- Revolving credit rose $8.1 billion to $0.974 trillion
- Non revolving credit rose $19.5 billion to $3.231 trillion
In February, consumer credit increased at a seasonally adjusted annual rate of 7.9 percent. Revolving credit increased at an annual rate of 10.1 percent, while nonrevolving credit increased at an annual rate of 7.3 percent.
Source: Federal Reserve
From The TradersCommunity News Desk