US consumer credit for February rises by $27.57 billion versus $2.8 billion estimate

US consumer credit for February 2021

The US consumer credit for February 2021 search by $27.578B vs $2.8 billion estimate. The number represents the highest gain since $29.225 billion in November 2017.

  • Revolving credit rose $8.1 billion to $0.974 trillion.  Revolving credit includes credit cards, personal lines of credit and home equity lines of credit (HELOCs)
  • Non revolving credit rose $19.5 billion to $3.231 trillion.  Examples are student loans and auto loans that can’t be used again once they’ve been repaid.

The revolving credit increase reverses a $8.6 billion decrease in January and may be weather related somehow.  It may also be a reversal of the pay downs seen over the last 11 months where 10 of the last 11 months have seen negative changes.  

In contrast non-revolving credit has increased in each of the last 10 months. The gains this month is the largest since 21.223B in June of 2020

Invest in yourself. See our forex education hub.


Leave a Reply

Your email address will not be published. Required fields are marked *