IFR-Preview-US Dec consumer credit seen slowing

WHAT: Federal Reserve Consumer Installment Credit, December
WHEN: Tuesday 1500 EST (2000 GMT)

FORECASTS (billion) Reuters IFR Previous
Consumer credit $7.70 $8.00 $20.37

IFR COMMENTARY: "Held down by a more traditional revolving
credit reading, consumer credit grew a softer $8 bln in
December, after having surged by an above-trend $20.4 bln in
November. While the last report showed both types of credit had
jumped above normal, revolving credit's increase was the larger
irregularity, jumping by $5.6 bln. This type of debt fell an
average of $750 mln a month in Q2 and prior to November's
outlier was up just $700 mln in October. Revolving will fall
back towards its trend level ($792 bln vs current $798 bln),
contracting by $3 bln. A handful of reports have shown another
strong month for car sales (especially retail and durable goods
December performances which showed accelerations from November)
and this should help keep nonrevolving positive. Nonrevolving
will slow to growth of $11 bln (was just up $14.8 bln).
Nonrevolving has been growing since June 2010 and as it
represents the bulk of total credit (generally over 66%),
outstanding credit will continue to expand into 2012."

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-- by Vimombi Nshom of IFR Markets, a unit of Thomson
Reuters.