U.S. Consumer Credit Spikes More Than Expected In October

Trading 07 déc 2018 Donner votre avis

A report released by the Federal Reserve on Friday showed a substantial increase in U.S. consumer credit in the month of October.

The report said consumer credit spiked by $25.4 billion in October after climbing by an upwardly revised $11.6 billion in September.

Economists had expected consumer credit to jump by $17.0 billion compared to the $10.9 billion increase originally reported for the previous month.

The Fed said non-revolving credit such as student loans and car loans surged up by $16.2 billion in October after advancing by $11.9 billion in September.

Revolving credit, which largely reflects credit card debt, also rose by $9.2 billion in October after edging down by $0.3 billion in September.

Compared to the same month a year ago, consumer credit in October was up by 7.7 percent, as revolving and non-revolving credit increased by 10.7 percent and 6.7 percent, respectively.

The material has been provided by InstaForex Company - www.instaforex.com

Fatal error: Uncaught Exception: 12: REST API is deprecated for versions v2.1 and higher (12) thrown in /var/www/forex-winner.com/htdocs/wp-content/plugins/seo-facebook-comments/facebook/base_facebook.php on line 1039