Consumer Credit December 2014


ECONODAY: Consumers were out in force with their credit cards and during the holiday season at that! Consumer credit rose $14.8 billion in December but the real headline is in the revolving credit component which jumped $5.8 billion. This is a very big jump for this component which typically shows not much of a monthly change at all. Non-revolving credit, which typically shows strong gains on vehicle financing and student loans, rose $9.0 billion. The thunder of today's employment report is echoed by the revolving credit component of this report as the consumer is, more clearly, the driving force for the economy...