Consumer Credit Increases 4.7% in July

In July, consumer credit increased at a seasonally adjusted annual rate of 4.7%.  Revolving credit increased at an annual rate of 6.7%, while nonrevolving credit increased at an annual rate of 4.1%.

Federal government holdings of student loans continue to be the largest portion of non-revolving credit, comprising 42.5% of outstanding credit. Depository institutions and finance companies are secondary and tertiary holders, with 25.6% and 16.8%, respectively, of outstanding non-revolving credit.

Read the Fed release.

Share.