Consumer credit increased in July

Consumer credit increased at a seasonally changed rate of 2.5% in July and 3.4% in June. Total exceptional credit increased to $4.98 trillion throughout the month.

Resolving credit, mainly a reflection of charge card financial obligation, increased at a yearly rate of 9.2% to $1.270 trillion in July. Non-revolving credit increased at a 0.2% yearly rate, and overall non-revolving credit is now $3.714 trillion.

Federal federal government holdings of trainee loans continue to be the biggest part of non-revolving credit, consisting of 40% of nonrevolving credit. Depository organizations and Finance business are secondary and tertiary holders of non-revolving, with 24.8% and 18.5%, respectively, of exceptional non-revolving credit.

Read the Fed release.


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