- In US consumer credit rose $40.15B vs 25.0B est
- revolving credit increased by $14.8B
- Non revolving credit rose by $24.3B
- For the year, revolving credit rose by 14.6% while non-revolving credit increase by 6.9%.
The month on month volatility is more to the upside. Inflation is impacting the pocketbooks and may be leading to more borrowing to make ends meet. Having said that, balance sheets are stil solid overall. So it is hard to say it is a huge problem, but it may be a concern.