Written by Steven HansenHeadline consumer credit expanded significantly and well above expectations in June. Our analysis of the unadjusted data shows annual growth continues to accelerated year-over-year.
May 2021 Consumer Credit Continues To Expand econintersect.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from econintersect.com Daily Mail and Mail on Sunday newspapers.
Headline consumer credit expanded in March and was above expectations. Our analysis of the unadjusted data shows annual growth is now growing year-over-year.
Analyst Opinion of the Consumer Credit Situation
Student loan year-over-year growth rate was marginally grew but remains in an overall slowing trend.
Not only does this data set suffer from backward revision (at times moderate to significant enough to change trends -, but the use of compounding (projecting monthly change as annual change) by the Federal Reserve to determine consumer credit growth rates exaggerates the volatility in this data.
that the amount of consumer credit outstanding relative to consumer expenditures is at 21st-century highs.
Dubai: Another UAE bank has come up with upbeat first quarter 2021 numbers - RAKBank recorded net profit of Dh113.9 million during the period, and which is a 70.8 per cent gain on the fourth quarter.
Total assets were at Dh53.2 billion, which is an increase of 0.9 per cent year-to-date. It was brought on by enhancements in gross loans and advances, lending to other banks and investments. Total income came to Dh800.9 million, down 0.8 per cent from the fourth quarter. But operating expenses were kept under control, dropping by 10.2 per cent when compared to first quarter 2020.
Peter England, CEO, said: The performance this quarter was solid and driven by a strong momentum from all of our business verticals as this was evident in the year-on-year decrease in provision for credit loss by Dh123.4 million. RAKBank is on a recovery path post-COVID-19 and will continue to maintain that trajectory while retaining healthy capital levels.
Headline consumer credit expanded in January and was above expectations. Our analysis of the unadjusted data shows annual growth is non-existant year-over-year.
Analyst Opinion of the Consumer Credit Situation
Student loan year-over-year growth rate was little changed and remains in an overall slowing trend.
Not only does this data set suffer from backward revision (at times moderate to significant enough to change trends -, but the use of compounding (projecting monthly change as annual change) by the Federal Reserve to determine consumer credit growth rates exaggerates the volatility in this data.
that the amount of consumer credit outstanding relative to consumer expenditures is at 21st-century highs.