Intraday Economic News: November Consumer Credit Surges $20.4 Billion, The Largest Gain In 10 Years Jan 12
- Language: English
- Published: January 2012
April consumer credit rose $6.2 billion, which is the eighth straight gain after 19 consecutive months of declines. It was larger than the consensus expectation of a $5.0 billion increase, though near our forecast of a $6 billion increase for the month. Nonrevolving credit was up $7.2 billion, increasing for the ninth month in a row. Revolving credit, in contrast, remains notably weak, falling $0.9 billion in April and is now down 30 of the past 32 months. The report suggests that the worst may be behind us and that people are willing to borrow again, though likely still at a slow pace....
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