2017 Economic Calendar
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Consumer Credit  
Released On 6/7/2017 3:00:00 PM For Apr, 2017
PriorPrior RevisedConsensusConsensus RangeActual
Consumer Credit - M/M change$16.4 B$19.5 B$17.0 B$15.0 B to $20.0 B$8.2 B

Credit growth slowed in April, to $8.2 billion which is well below Econoday's median estimate for $17.0 billion and low estimate of $15.0 billion. Weakness is centered in nonrevolving credit which rose only $6.7 billion for the lowest reading in nearly 6 years. This includes weak showings for vehicle financing and also student loans which are lumped into this component. Revolving credit was also soft, up $1.5 billion vs $5.4 billion in the prior month. These data are further confirmation that April was an unusually soft month for consumer activity.

Consensus Outlook
Credit growth has been moderate and steady with consumer credit posting gains in the $15 to $20 billion range. The revolving component has been uneven though growth in nonrevolving credit, reflecting vehicle financing and also student loans, has been steady and sizable. A $17.0 billion increase is expected for consumer credit in April.

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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