More on Consumer Credit: The $19.6B rise in May was the most in a year, bringing the annualized...

|By:, SA News Editor

More on Consumer Credit: The $19.6B rise in May was the most in a year, bringing the annualized percentage gain up to 8.3%. Previous increases have typically been from nonrevolving debt (auto and student loans), with revolving debt (credit cards) sitting out, but revolving debt accounted for $6.6B of the increase in May. At $856.5B, it's little-changed since a steep post-financial crisis drop. Nonrevolving debt of nearly $2T is about 33% higher than it stood 4 years ago. (full report)