Jose Calsina
Consumer credit rose by $5.13B in October vs. $9.00B consensus and $12.22B in September (revised from $9.06B), the Federal Reserve said on Thursday.
Total outstanding consumer credit of $4.99T climbed from $4.98T in the prior month (revised from $4.97T). On a seasonally adjusted basis, consumer borrowing increased at a 1.2% annual rate, slowing from the 2.2% rate in the previous month.
Revolving credit, which includes credit card debt, climbed at an annual rate of 2.7% to $1.30T.
Nonrevolving credit, which consists of auto and student debt, advanced at an annual rate of 0.7% to $3.69T, said the Fed.