U.S. consumer revolving credit card soared in August, growing at an annual rate of +7.0%, compared to a revised +3.4% annual rate in July and a revised +11.4% annual rate in June.
Overall consumer credit increased at a seasonally adjusted annual rate of +8.5% in August. Non-revolving credit increased at an annual rate of +9.0%.
Total revolving credit for August posted at $974.6 billion, compared to a revised $969.0 billion in July, and a revised $966.2 billion in June, according to the Federal Reserve.
On a quarterly basis U.S. revolving consumer credit is 5.5% year-on-year to $974.6 billion for 3Q/16, compared to $949.1 billion for 2Q/16, and $924.2 billion for 3Q/15.
Total consumer credit, at the end of August, stood at $3686.7 billion.
U.S. credit card outstandings end-of-period (EOP) among the Top 4 issuers increased 8.7% in the third quarter year-on-year (YOY) to $393.2 billion.
For additional analysis, charts and graphs on the August 2016 U.S. Credit Card Outstandings access CardData.
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