On December 7th, the Federal Reserve released the preliminary consumer credit statistics for October, 2007:
revolving credit rose at an annual rate of 8.3%- non-revolving credit fell at an annual rate of 1.3%
- overall, consumer credit rose at an annual rate of 2.3%
- total estimated outstanding on revolving credit: $928.5 billion
- total estimated outstanding on non-revolving credit: $1,561.9 billion
Per usual, we'll have to wait until next month to see how close these preliminary October, 2007 stats compare to the actual final numbers.
The final figures for September, 2007 were:
- revolving credit rose at an annual rate of 6.0%
- non-revolving credit fell at an annual rate of 1.1%
- overall, consumer credit rose at an annual rate of 1.6%
- total outstanding on revolving credit: $922.1 billion
- total outstanding on non-revolving credit: $1,563.5 billion
There's a whole lotta outstanding consumer debt floating around out there!
Have you taken a minute to consider and calulate what your personal contribution to these numbers are?
Comments