|
2009 Economic Calendar |
|
POWERED BY
|
|
|
Resource Center » U.S. & Intl Recaps | Release Dates | Why Investors Care | Today's Calendar
|
|
The dollar value of consumer installment credit outstanding. Changes in consumer credit indicate the state of consumer finances and portend future spending patterns. Why Investors Care
| Released on 12/7/05 For Oct 2005 | ||||||||||||
| ||||||||||||
Highlights
Consumer credit fell a surprising and sharp $7.2 billion in October, but the drop was offset in part by a sharp upward revision to September to a $4.1 billion rise from an originally reported dip of $0.1 billion.
Non-revolving credit showed a big $5.5 billion contraction, reflecting still slow auto sales likely made weaker by rising car loan rates (6.13% Oct. vs. 5.89% Sept.). Revolving credit fell $1.6 billion in the month.
Though credit totals are slipping, a pop up in today's mortgage bankers' refinancing index offers a reminder that consumers continue to use home equity loans to finance purchases. Wednesday's data had no impact on the financial markets.
Consumer installment credit dipped $0.1 billion in September after posting strong gains in the three previous months. Given the slowdown in motor vehicle sales, it wouldn't be a surprise to see continued moderation in October consumer credit usage either.
Consumer credit Consensus Forecast for Oct 05: $5.9 billion
Range: $-0.5 to $8.0 billion
![[Chart]](chart.gif)
|
The debt-to-income ratio shows how indebted consumers are relative to income. A rising ratio indicates that consumers are taking on greater debt burdens with respect to income growth. In a growing economy, this may not be dangerous. However, indebtedness could quickly become a problem if income and employment conditions turn around. The yearly change in debt outstanding shows yearly trends in debt growth and tends to be less volatile than the monthly change. |
| 2005 Release Schedule | ||||||||||||||||||||||||||
|
powered by
![[Econoday]](../../../../../../../../../images/logo.gif){kind=logo}