Consumer credit outstanding has increased an average of $15 billion per month over the past five months. The strength over that period has come almost entirely from nonrevolving credit.
In February, revolving credit increased by $0.5 billion and nonrevolving credit increased by $17.6 billion.
Additional detail:
- Consumer credit outstanding is currently $239 billion past its mid-2008 peak. The recovery has come mostly from nonrevolving credit, which is now 27 percent greater than its prerecession peak. Revolving credit, meanwhile, is 17 percent below the level in mid-2008.
- Note: consumer credit is credit extended to individuals for household, family, and other personal expenditures, excluding loans secured by real estate.