Consumer credit rises less than expected in August

Consumer credit in August rose less than expected.

Credit rose by $US16 billion, below expectations for a $US19.5 billion expansion.

In July, consumer credit rose by $US19.1 billion, or 6.7%, on a seasonally adjusted annualized basis to $US3.4 trillion.

This was revised lower to show a $US18.9 billion increase in consumer credit in July.

More to come …

NOW WATCH: Fed’s Bullard gave us a great baseball analogy to explain what the Fed is doing wrong

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at