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Wednesday, August 12, 2020 2:30:21 AM EDT

Consumer Credit Updated 07-Aug-20 03:22PM ET
Consumer credit increased by $9.0 billion in June ( consensus $15.0 billion) after declining an upwardly revised $14.4 bln (from -$18.2 billion) in May.

Nonrevolving credit increased by $11.3 bln in June to $3.132 trln.

Revolving credit declined by $2.2 bln in June to $992.4 bln.

Consumer credit decreased at a seasonally adjusted annual rate of 6.75% during the second quarter, with revolving credit decreasing at an annual rate of 31.75% and nonrevolving credit increasing at an annual rate of 2.00%.

The key takeaway from the report is that June marked the fourth straight monthly contraction in revolving credit, which is something that hasn't happened since late 2010 - early 2011, underscoring the more restrictive credit stance adopted by lenders in the wake of the COVID shutdown and spike in unemployment.
Total Credit$8.9B-$14.4B-$65.3B-$16.1B$20.5B