Non Revolving credit leads the way
Non revolving credit increased by $14.3B vs 15.1B in the prior month. The annual change is 6.6% down from 7% last month. Non revolving credit includes includes student, and automobile loans.
Revolving credit increased by 2.9B. The annual percentage change is 3.7%, up from -0.3% last month. Revolving credit includes credit card debt.
The trend has been for assuming more loans for big ticket items like cars, while paying down credit card debt.