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2009 Economic Calendar |
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Resource Center » U.S. & Intl Recaps | Release Dates | Event Definitions | Today's Calendar
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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 8/7/07 For Jun 2007 | ||||||||||||
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Highlights
Consumer credit surged for a second straight month, up $13.1 billion in June on top of May's $16.0 billion increase. May's total was revised upward by a sizable $3.1 billion. Gains in June were split evenly between revolving credit (largely credit cards) and non-revolving credit (largely vehicle loans). June's gains are a surprise given the month's soft retail sales data, but they do reflect solid gains in wages that are giving consumers confidence to spend despite soft home prices. A step down in interest rates may also be boosting credit usage as car loan rates fell to 4.66 percent from 4.88 percent.
Consumer credit jumped $12.9 billion in May showing big gains for both revolving credit, up $7.2 billion, and non-revolving credit, up $5.7 billion.
Consumer credit Consensus Forecast for June 07: +$4.0 billion
Range: +$2.0 billion to +$8.2 billion
![[Chart]](chart.gif)
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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. |
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