In May, the consumer credit rose at a seasonally adjusted annual rate of 10% as the resolving credit rose by 11.4%.
- The total outstanding consumer credit in May was $4,279.3 billion surpassing Q2, 2020, which stood at $4,145.4 billion.
- In April, the revolving credit dropped by 1.2% and recovered in May to increase by 11.4%.
- The terms of credit increased slightly in May with new car loans increasing to 5.28% for 48-month loans and 5.05% for 60-month loans.
- The term of credit for personal loans increased to 9.58% in May from Q1 average of 9.46%.
- In May, the level of consumer credit outstanding improved to $4,235.1 billion from $4,190.8 billion.
The total unadjusted consumer credit outstanding expanded significantly to $532.4 billion in May from $269.6 billion in April.
EURUSD is -0.16%.
Source: The US Federal Reserve.
