Consumer loans in the USA increased below expectations with 10.4 billion dollars in July.
The US Federal Reserve (Fed) announced consumer loan data for July.
Accordingly, consumer loans in the country increased by 10.4 billion dollars in July compared to the previous month, reaching a volume of 4 trillion 984.7 billion dollars.
The market expectation for consumer loans was for an increase of 16 billion dollars. The increase in consumer loans in June was 17.85 billion dollars.
During this period, credit card and similar transferable loans increased by 9.7 billion dollars on a monthly basis, and non-transferable loans such as home, automobile and student loans increased by 700 million dollars.
Consumer loans increased by 2.5 percent on an annual basis in July. Loans that transferred increased by 9.2 percent in July compared to the same period last year, while loans that did not transfer increased by 0.2 percent.