- Language: English
- Published: July 2012
- Region: United States
Intraday Economic News: April Consumer Credit Rises $6.2 Billion Jun 11
- ID: 1814847
- June 2011
- Standard & Poors
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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