by Bill McBride on 9/08/2010 03:09:00 PM
Wednesday, September 08, 2010
The Federal Reserve reports:
In July, total consumer credit decreased at an annual rate of 1-3/4 percent. Revolving credit decreased at an annual rate of 6-1/4Click on graph for larger image in new window.
percent, and nonrevolving credit increased at an annual rate of 1/2 percent.
This graph shows the increase in consumer credit since 1978. The amounts are nominal (not inflation adjusted).
Revolving credit (credit card debt) is off 15.2% from the peak. Non-revolving debt (auto, furniture, and other loans) is off 1.1% from the peak. Note: Consumer credit does not include real estate debt.
Posted by Bill McBride on 9/08/2010 03:09:00 PM