After reporting a sharp drop in U.S. consumer credit in the previous month, the Federal Reserve released a report on Wednesday showing consumer credit continued to decline in the month of May.
The Fed consumer credit slumped by $18.2 billion in May after plunging by a revised $70.2 billion in April. Economists had expected credit to decrease by $15.5 billion compared to the $68.7 billion nosedive originally reported for the previous month.
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.