2018 Economic Calendar
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Consumer Credit  
Released On 11/7/2018 3:00:00 PM For Sep, 2018
PriorPrior RevisedConsensusConsensus RangeActual
Consumer Credit - M/M change$20.1 B$22.9 B$16.5 B$12.0 B to $21.5 B$10.9 B

Highlights
Consumer credit growth slowed more than expected to just $10.9 billion in September, below Econoday's consensus range and less than half of the upwardly revised $22.9 billion August increase. Growth slowed in nonrevolving credit, which rose $11.2 billion in September versus $18.3 billion previously, while growth in revolving credit stalled completely and posted a marginal decline of $0.3 billion. Gains in nonrevolving credit reflect vehicle financing and student loans while gains in revolving credit reflect credit-card debt.

Today's report shows that despite strong employment, consumers were cautious in September after splurging a little in August and chose to pay down some of their credit card debt instead. While it may be a plus for household wealth, the thriftiness exhibited is not a plus for consumer spending and the GDP.

Consensus Outlook
Easing growth of $16.5 billion is expected for consumer credit in September following an August increase of $20.1 billion that showed an increase in revolving debt.

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
 
[Chart]
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
 
 

2018 Release Schedule
Released On: 1/82/73/74/65/76/77/98/79/1010/511/712/7
Release For: NovDecJanFebMarAprMayJunJulAugSepOct
 


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