MISS: CONSUMER CREDIT FALLS AFTER BIG UPWARD REVISION TO PRIOR MONTH

credit card

Photo: Flickr / Outsanity Photos

UPDATE:

Very strange, mixed report on consumer credit.

Consumer credit fell $3.27 billion in July vs. expectations of a gain of $9.2 billion.

On the other hand, there was a positive $5.4 billion upward revision to the previous month.

It nets out to a modest gain from where we were, so still a miss, but a strange number.

Ominously, revolving credit declined by 5.8%.

Read the full report here >

—————

 

This one often gets overlooked, but it’s one of our favourite datapoints to watch: Consumer credit for July comes out at 3 PM ET.

Analysts expect $9.2 billion worth of new credit, growth from $6.45 billion last month (recall that that month was a disappointment).

Come back to this post for the latest.

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.


Tagged In

credit moneygame-us