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2008 Economic Calendar |
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Resource Center » U.S. & Intl Recaps | Release Dates | Why Investors Care | Today's Calendar
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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
| Released on 12/7/07 For Oct 2007 | ||||||||
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Consumer credit in September rose a modest $3.7 billion, compared to a $15.4 billion jump in August and well down from trend. Revolving credit rose $3.4 billion in the month, also well down from trend and suggesting that consumers are not relying more heavily on credit cards to make everyday payments. Non-revolving credit rose $0.3 billion in the month, well down from $8.4 billion in August. A combination of factors could be behind the slower credit growth, including soft motor vehicle sales, consumer caution about spending, less growth in home equity, and financial firms lending at a slower growth rate due to illiquidity in the credit markets and over concern about consumers being overextended.
Consumer credit Consensus Forecast for October 07: +$9.0 billion
Range: $2.0 billion to +$11.3 billion
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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. |
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