Today’s consumer-credit report from the Fed was terrific:
http://www.federalreserve.gov/releases/g19/current/default.htm
We now have back-to-back gains of $244.8 billion and $231.6 billion at seasonally-adjusted annual rates for the latest available months.
Place these on the chart with your mind’s eye and you’ll see that these numbers exceed even a strong-growth period such as 2003 – 2007.
Consumer Credit
(Click on chart to enlarge)
(Recessions shaded)
If this pace continues, it’s good news for auto sales and any other household purchase financed with consumer credit (not mortgage credit).
Could the consumer be back? We’ll see.
(To be fully informed visit http://www.beyourowneconomist.com/)
If this pace continues, it’s good news for auto sales and any other household purchase financed with consumer credit (not mortgage credit).
Could the consumer be back? We’ll see.
(To be fully informed visit http://www.beyourowneconomist.com/)
© 2012 Michael B. Lehmann
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