2017 Economic Calendar
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Consumer Credit  
Released On 1/9/2017 3:00:00 PM For Nov, 2016
PriorPrior RevisedConsensusConsensus RangeActual
Consumer Credit - M/M change$16.0 B$16.2 B$18.5 B$12.0 B to $20.0 B$24.5 B

A large increase in revolving credit, one of the largest of the cycle, is likely a positive indication for holiday sales. Revolving credit jumped $11.0 billion in data for November to indicate that consumers are increasingly running up their credit-card debt. Non-revolving credit, up $13.5 billion, is also positive, here reflecting demand for vehicle financing and student loans (which are tracked in this report). Total credit rose $24.5 billion in the month, well above the consensus and also above Econoday's high estimate. Retail sales for December, to be posted Friday, will offer definitive data on the strength of holiday spending.

Consensus Outlook
Consumer credit is expected to rise $18.5 billion in November vs October's increase of $16.0 billion. Revolving credit, which is where credit-card debt is tracked, has been on the climb and is at a cycle high, at 6 percent annualized growth. Non-revolving credit remains the report's main source of growth, underpinned by student loans and also reflecting solid demand for vehicle financing.

The dollar value of consumer installment credit outstanding. Changes in consumer credit indicate the state of consumer finances and portend future spending patterns.  Why Investors Care
The debt-to-income ratio shows how indebted consumers are relative to income. A rising ratio indicates that consumers are taking on greater debt burdens with respect to income growth. In a growing economy, this may not be dangerous. However, indebtedness could quickly become a problem if income and employment conditions turn around. The yearly change in debt outstanding shows yearly trends in debt growth and tends to be less volatile than the monthly change.
Data Source: Haver Analytics

2017 Release Schedule
Released On: 1/92/73/74/75/56/77/108/79/810/611/712/7
Release For: NovDecJanFebMarAprMayJunJulAugSepOct

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