Wednesday, July 11, 2012

Consumer Credit’s Good Report

The Lehmann Letter (SM)

On Monday the Federal Reserve reported that consumer credit grew by a whopping $205.4 billion in May:

Household spending must grow strongly for a robust recovery, and households must borrow to finance it. This shows they are.

Consumer Credit

(Click on chart to enlarge)

(Recessions shaded)

The chart as well as the latest report, which provides data for the past three quarters, are all upbeat.

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© 2012 Michael B. Lehmann

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