July consumer credit data are out.
Total credit rose a seasonally-adjusted $US10.437 billion in July (4.4% year over year) to $US2.852 trillion, below estimates for a larger $US12.700 billion expansion.
June’s credit expansion was revised down to $US11.925 billion (a 5.1% year-over-year rise) from the initially-reported $US13.818 billion figure.
Revolving credit — credit cards and the like — fell $US1.8 billion, or 2.6% year over year, to $US849.8 billion.
Non-revolving credit — student loans, auto loans, et al. — rose $US12.3 billion, or 7.4% year over year, to $US2.002 trillion.