Consumer Credit Trends For July, Revolving and Non-Revolving (Charts)

The 5-year chart below shows the year-over-year percent change in total consumer credit, revolving credit (credit cards), and non-revolving (student loans and auto loans) ending July 2012. The chart goes back to the peak of the bull market in 2007. I know it's backward looking information, but look how the charts are starting to roll over again after the nice rebound.

Source: St. Louis Fed FRED

More from Reuters:

"U.S. consumer credit fell in July for the first time in nearly a year as Americans reduced credit card debt, a worrisome sign for an economy that has struggled to create jobs.

Consumer credit shrank by $3.28 billion in July, the Federal Reserve said on Monday. That was well below the $9.1 billion advance Wall Street economists had forecast in a Reuters poll."

And here are annual growth rates from the Fed's release. See tables in the PDF file.

"In July, total consumer credit decreased at a seasonally adjusted annual rate of 1 1/2 percent. Revolving credit decreased at an annual rate of 6-3/4 percent, and nonrevolving credit increased at an annual rate of 1 percent."

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