2018 Economic Calendar
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Consumer Credit  
Released On 7/9/2018 3:00:00 PM For May, 2018
PriorPrior RevisedConsensusConsensus RangeActual
Consumer Credit - M/M change$9.3 B$10.3 B$12.4 B$10.0 B to $22.6 B$24.6 B

Consumers ran up credit-card debt very sharply in May driving up total credit by $24.6 billion which tops Econoday's consensus range by $2 billion. Revolving credit, where prior gains have been subdued, rose $9.8 billion for the biggest increase since November last year. Nonrevolving credit, which tracks both vehicle financing as well as student loans, rose an intrend $14.8 billion in the month. The rise in revolving credit may not be a plus for household wealth but it is a plus for consumer spending which has been moderate so far this year.

Consensus Outlook
A stronger rise is expected for consumer credit in May than in April, at a consensus $12.4 billion vs April's $9.3 billion. Revolving credit has been flat this year though April did see a slight $2.3 billion increase. For nonrevolving credit, strength in vehicle sales during May hints at a larger increase than April's $7.0 billion.

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

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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