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." For more Reuters consensus forecasts for U.S. indicators, double-click on -- by Vimombi Nshom of IFR Markets, a unit of Thomson Reuters.
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