Consumer Credit

Importance: *

Definition: The consumer credit data tracks debt levels for auto financing and commercial banking credit, including installment and credit card borrowings.
 Related Indicators:

Source: Federal Reserve

Frequency: Monthly

Availability: Approximately five weeks following the reported month.



Volatility: Low
Likely Impact of Financial Markets:

                    Interest Rates: Considered dated  material--little impact on interest rates.

                    Stock Prices:

                    Exchange Rates:

Ability to Affect Markets:

Analysis of the Indicator:

Consumer credit trends are considered a fairly good indicator of consumer spending. For example, a
trend of increasing consumer debt suggests strong consumer demand and vice-versa. Economists
consider it to be a poor tool for forecasting consumer sentiment trends.

The installment credit data is fairly stable, subject to very little revision. However, auto financing is
volatile at times. It is best to look at several months' data for trends.

The consumer credit report is considered dated material and of only minor consequence to the bond

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