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.
(To be fully
informed visit http://www.beyourowneconomist.com/)
© 2012
Michael B. Lehmann
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