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Resource Center » U.S. & International Recaps | Release Dates | Why Investors Care | Today's Calendar
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Consumer Credit
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Definition
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
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| Released on
2/7/07
For
Dec 2006 |
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Consumer Credit - M/M change
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| Actual |
$6.0B
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| Previous |
$
12.4
B
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Highlights
Consumers drew less credit in December but still a substantial $6.0 billion centered in nonrevolving credit used to finance vehicle purchases. December's rise follows a very sharp $13.7 billion jump in November (revised from $12.4 billion) that showed a very large $10 billion jump in revolving credit. Revolving credit only rose $0.6 billion in December but consumers, eager to spend but having depleted savings and seeing only modest wage growth, may have to turn more and more to credit cards.
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Trends
![[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. |
Data Source: Haver Analytics
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