United States June consumer credit booms 6.7% pocket money of consumer credit card

United States Federal Reserve Board 7th report published by the United States consumer credit 6 month annualised growth 6.7%, representing yuanda in May the amended 3.8% since November last year, the maximum rate of increase.

Consumer credit reflects the personal consumption expenditures. Personal consumption expenditure accounted for two thirds of the United States gross domestic product (GDP), is the main driver of economic growth. June consumer credit growth is due to the decline in housing NET forcing consumers to use credit cards and other loans for the financing, and coping with rising prices.

Xinhua report, the report shows that used to credit card consumer aspects of working with credit June annualised growth 6.8%, an increase of just under 5 months 7.6%. However, for education, vacations, and buying a car, and other non-working capital-credit June annualised growth 6.6%, an increase of well over 5 months of 1.5%.

United States consumer lending in June amounted to 2.586 trillion. Analysts originally estimated June consumer credit growth 64 billion, but the actual growth of $ 140 million.

The report also shows that in the second quarter of this year, the United States consumer credit annualised growth 4.9%, an increase of slightly lower than the first quarter of amended 5.0%.