Updated: 07-May-08 15:23 ET

March Consumer Credit

Updated: 07-May-08 15:23 ET

Highlights

Key Factors

• The year-over-year increase in consumer credit is 2.4% through the February data.  This is down slightly from recent years as consumers have become a bit more cautious.  Consumer credit was up 5.7% in 2007 and 4.5% in 2006.  The gains for 2003 through 2005 were in the 4.3% to 5.5% range. 
• Raw data available at: http://www.federalreserve.gov/releases/G19/Current/
•  

Big Picture

Consumer credit is no longer a key economic report.  The primary components are credit card debt and auto loans.  Home equity lines have become increasingly important in recent years and this release less important.  Increases in credit can suggest increased spending and confidence, but also reflect additional debt.  The financial markets pay very little attention to this report.  
•