US consumer credit plunges -$68.78 billion vs. $-20 billion estimate – ForexLive

US consumer credit for the month of April 2020

US consumer credit for the month of April came in at -$68.77 billion vs. $-20 billion estimate. The prior month came in at $-11.5 billion. It was previously reported at $-12 billion.

  • Revolving credit fell by $-58.3 billion vs. $-26.2 billion last month. The annual changes $-64.9 billion.  Revolving credit is credit card debt
  • nonrevolving credit fell by $-10.5 billion vs. plus $14.7 billion last month. That is a -4.0% annual change. 
  • The total flows fell by $-825.4 billion as consumers cut back on spending.

I guess people spend a lot going out for dinner and a movie….

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