US Consumer Credit m/m

US consumer credit rose by $8.05B in January, compared with expectations of $12B. The increase was $3.95B lower than forecast. The data points to slower growth in total borrowing by households during the month. This release focuses on consumer credit, which typically includes revolving credit such as credit cards and non-revolving loans such as auto and student borrowing. The January consumer credit miss is a clear warning sign that the consumer is finally pulling back after a strong 2025. We saw this confirmed in the most recent ...

Total U.S. consumer credit growth slowed to a $5.1 billion gain in May, down from a $16.9 billion rise in the prior month, the Federal Reserve said Tuesday. That translates to a 1.2% annual rate in May, down from a 4% rise in the prior month. The increase was much smaller than expected. Economists had been forecasting a $10 billion gain in May consumer credit, according to a Wall Street Journal survey. Revolving credit, such as credit cards, fell at a 3.2% rate in May after a 6.9% gain in the prior month. It is the first drop since ...

US consumer borrowing increased in August at a slower pace than a month earlier, restrained by the largest drop in credit-card balances since March 2021. Total credit outstanding rose $8.9 billion after a revised $26.6 billion July increase that was the largest since October 2022, according to Federal Reserve data released Monday. The median estimate in a Bloomberg survey of economists called for an increase of $12 billion. The figures aren’t adjusted for inflation. Revolving debt outstanding, which includes credit cards, decreased ...

US consumer borrowing increased in July by the most since November 2022, reflecting jumps in non-revolving debt and credit-card balances. Total credit outstanding increased $25.5 billion, according to Federal Reserve data released Monday. The gain exceeded all forecasts in a Bloomberg survey of economists. The figures aren’t adjusted for inflation. Revolving debt outstanding, which includes credit cards, increased $10.6 billion, the most in five months. Non-revolving credit, such as loans for vehicle purchases and school tuition, ...

On a day when an early attempt by the BOJ to kickstart the global carry trade by capitulating on Japan's recent mistimed foray into rate hikes, has crashed and burned with stocks tumbling, amid renewed concerns that the US economy is slowing (at least until next week's "surprising" CPI beat), moments ago the Fed poured gasoline on the rising flames when it reported June consumer credit data that was atrocious, and confirmed our worst fears: the consumer has hit a brick wall. According to the Federal Reserve's monthly consumer credit ...

The calls earlier this week for an emergency rate cut seemed to be a call for the Fed put, which, we argue is misunderstood. It is not about the stock market per se but financial stability, which did not seem threatened in the US. Japan is a different story, and the Bank of Japan offered a verbal put today, with an indication that it wants to maintain low (accommodative) rates. The markets reacted accordingly. The yen was sold (and dragged down the Swiss franc as well). The dollar-bloc currencies and Scandis are trading higher, while ...

US consumer borrowing increased in April by less than forecast as credit-card balances declined for the first time in three years. Total credit rose $6.4 billion after a downwardly revised $1.1 billion decrease in March, according to Federal Reserve data released Friday. The median forecast in a Bloomberg survey of economists called for a $10 billion increase. The figures aren’t adjusted for inflation. Revolving credit, which includes credit cards, fell $462 million. Non-revolving credit, such as loans for vehicle purchases and ...