U.S. consumer credit growth probably accelerated further in July

The U.S. consumer credit data is scheduled to release on 8th September. Powered by a projected pickup in the nominal value of revolving loans outstanding, consumer installment credit likely jumped by $22.1 billion in July - the largest one-month takedown since April 2014. 

"Echoing a reported rise in credit-card debt held by commercial banks, revolving consumer liabilities probably expanded by $7.4 billion during the reference period, after a $5.5-billion increase in June. Non revolving liabilities are expected to rise by $14.7 billion in July - a touch above the $14.3-billion average posted over the April June span. If our projection is on the mark, consumer credit has expanded by 6.5% over the latest 12 months", says Societe Generale in a research note.