Consumer credit outstanding rose by a seasonally adjusted annual rate of 6.7 percent ($229.2 billion) in July — slower than June’s mark of 9.5 percent growth, according to the Federal Reserve Board (via NAHB).
Consumer credit outstanding is now at $3.45 trillion. The figure represents an increase in outstanding non-revolving consumer credit, including auto loans and student loans. Non-revolving credit grew by an adjusted rate of 7.0 percent in July.
Revolving credit outstanding (which includes credit card debt) grew by an adjusted annual rate of 5.7 percent ($51.8 billion) in July.
Sign-up for Pro Builder Newsletters
Get all of the latest news and updates.