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Consumer Credit Drops For 11th Straight Month, Down -1.8 Billion, November Revised $4.3 Billion Lower

Courtesy of Tyler Durden

January Consumer Credit dropped for the 11th straight month, declining by $1.8 billion in January to $2,456.8 billion from a $4 billion downward revised $2,458.6 billion in November. Revolving credit dropped by $8.5 billion, or an 11.5% annuallized rate, while non-revolving credit (think auto loans) surged by almost $7 billion, a 5.2% annualized increase.The primary source of capital was “pools of securitized assets” whose total increased from $601 billion to $610 billion as most other funding classes declined.

Is January poised for the first positive consumer credit reading in a year?

This entry was posted on Friday, February 5th, 2010 at 3:34 pm and is filed under Immediately available to public. You can leave a response, or trackback from your own site.

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