2017 Economic Calendar
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Consumer Credit  
Released On 10/6/2017 3:00:00 PM For Aug, 2017
PriorPrior RevisedConsensusConsensus RangeActual
Consumer Credit - M/M change$18.5 B$17.7 B$16.0 B$12.5 B to $16.2 B$13.1 B

Consumer credit rose a lower-than-expected $13.1 billion in August which masks, however, a sharp gain for revolving credit. This component, which is where credit-card debt is tracked, rose a sizable $5.8 billion in a gain that will renew talk of slackening credit standards among lenders. The gain for the nonrevolving component, where auto financing and also student loans are tracked, is an undersized $7.3 billion and explains the weakness in the headline. But this report is not about weakness but about strength, at least strength for consumer spending.

Consensus Outlook
Consumer credit has been on the rise this year though revolving credit, which is where credit cards are tracked, did slow in July. Nonrevolving credit, reflecting growth in vehicle financing and student loans, has been very strong. Forecasters are calling for a $16.0 billion rise in August vs $18.5 billion in July.

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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