U.S. consumer revolving credit for June, mostly credit card debt (95%), remained above the $1 trillion level for the fifth consecutive quarter. However, the year-on-year (YOY) change edged downward in June. Consumer revolving credit decreased at an 0.2% annual rate of growth in June, compared to a revised +11.2% annual rate in May and a revised +1.0% annual rate in April.
Non-revolving credit increased at an annual rate of +4.4% in June.
Total revolving credit for June posted at $1038.5 billion, compared to a revised $1038.9 billion in May, and a revised $1029.4 billion in April, according to the Federal Reserve.
On a quarterly basis U.S. revolving consumer credit is growing by +4.9% YOY to a revised $1038.8 billion for 2Q/18, compared to a revised $1028.5 billion for 1Q/18, and $1028.5 billion for 4Q/17.
Total consumer credit, at the end of June, stood at $3907.6 billion.
U.S. CONSUMER REVOLVING CREDIT
4Q/15: $938.8 billion
1Q/16: $953.2 billion
2Q/16: $968.1 billion
3Q/16: $980.7 billion
4Q/16: $969.6 billion
1Q/17: $979.9 billion
2Q/17: $991.5 billion
3Q/17: $1003.5 billion
4Q/17: $1028.5 billion
1Q/18: $1028.5 billion
2Q/18: $1038.8 billion
Source: Federal Reserve; RAM Research
New and Revised Data as of 8/7/18