U.S. consumer revolving credit for April, mostly credit card debt, continued to hover above the $1 trillion milestone set in December, growing at a solid clip annually. While climbing steadily throughout 2016, consumer revolving credit increased at a +2.9% annual rate of growth in April, compared to a revised +6.5% annual rate in March and a revised +5.2% annual rate in February.
Non-revolving credit increased at an annual rate of +2.9%.
Total revolving credit for April posted at $1010.6 billion, compared to a revised $1009.1 billion in March, and a revised $1003.7 billion in February, according to the Federal Reserve.
On a quarterly basis U.S. revolving consumer credit is growing by +5.9% year-on-year to $1009.1 billion for 1Q/17, compared to $1000.1 billion for 4Q/16, and $953.2 billion for 1Q/16.
Total consumer credit, at the end of April, stood at $3821.0 billion.
U.S. CONSUMER REVOLVING CREDIT
4Q/15: $938.8 billion
1Q/16: $953.2 billion
2Q/16: $968.1 billion
3Q/16: $980.7 billion
4Q/16: $1000.1 billion
1Q/17: $1009.1 billion
Source: Federal Reserve
New and Revised Data as of 6/7/17