US Consumer Credit Grows Less Than Expected In June

The Fed’s G.19 Release on Consumer Credit for the month of June shows that consumer credit, a measure of household debt that includes auto loans, student loans and credit card outstandings, grew to $ 3.211 trillion compared to $ 3.194 trillion in the month of May. Note that home loans are not included in this report.

Consumer credit therefore increased $ 17.2 billion in June, compared to the market’s expectations of an increase of $ 18.55 billion.

Growth in consumer credit

The report, which also includes information on credit terms, is a valuable gauge of economic conditions because the availability of credit (and its terms) affects the off-take of consumer durables such as vehicles, furniture, tuition and appliances.

The table below shows...