2017 Economic Calendar
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Consumer Credit  
Released On 9/8/2017 3:00:00 PM For Jul, 2017
PriorPrior RevisedConsensusConsensus RangeActual
Consumer Credit - M/M change$12.4 B$11.8 B$16.0 B$14.4 B to $18.0 B$18.5 B

Consumer credit rose a sizable $18.5 billion in July though revolving credit, which is where credit card debt is tracked, shows only a modest gain of $2.6 billion and is down from $4.8 billion in June. Nonrevolving credit, where student loans and vehicle financing are tracked, once again makes up the vast bulk of the headline increase, rising $15.9 billion. The slowing in revolving credit is not a plus for consumer spending but it may be a plus the financial sector's credit quality.

Consensus Outlook
Growth in consumer credit is expected to firm with the Econoday consensus calling for growth of $16.0 billion in July vs $12.4 billion in June. Revolving credit, where growth has been limited, is on the climb and raising questions whether financial firms are now lending to less qualified borrowers.

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
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

2017 Release Schedule
Released On: 1/92/73/74/75/56/77/108/79/810/611/712/7
Release For: NovDecJanFebMarAprMayJunJulAugSepOct

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