Mar 7, 2010

Daily Markets - Financial News And Opinions

Daily Markets - Financial News And Opinions

US Consumer Credit Update: Deleveraging Trend Still Present

Posted: 07 Mar 2010 06:01 AM PST

US Consumer Credit statistics were just released by the US Federal Reserve, surprising firmly to the upside. The figure for January was US +$5 billion, vs consensus expectations for a decline of -$4 billion, and December’s figure of -$1.8 billion.

Diving into the details, the breakdown was a $6.6 billion rise in non-revolving credit (e.g. things like car loans), while revolving credit continued to decline, down $1.7 billion. Thus it is very much symptomatic of a still weak consumer … [visit site to read more]


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