ARLINGTON, Va. — NAFCU's Macro Flash Data analysis for the month of May found the pace of consumer borrowing at a healthy $12.9 billion (seasonally adjusted) pace. This was more than double what was projected by economists, said NAFCU. Both revolving and non-revolving credit was up, reflecting strong consumer demand for products. Credit card and loans led the way, but NAFCU Chief Economist Dr. Tun A. Wai said he doesn't expect auto loans to keep growing, given that auto sales will begin to slump.
Credit unions' share of the total in consumer installment credit was 9.71% in May.
According to NAFCU's Flash Report, the Housing Market Index (NAHB) score for June 2007 was 28; a score over 50 indicates most builders are optimistic about the housing prospects over the next six months.
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