by Calculated Risk on 4/07/2010 03:08:00 PM
Wednesday, April 07, 2010
The Federal Reserve reports:
Consumer credit decreased at an annual rate of 5-1/2 percent in February 2010. Revolving credit decreased at an annual rate ofClick on graph for larger image in new window.
13 percent, and nonrevolving credit decreased at an annual rate of 1-1/2 percent.
This graph shows the year-over-year (YoY) change in consumer credit. Consumer credit is off 4.0% over the last 12 months.
Consumer credit has declined for 12 of the last 13 months - and declined for 13 of the last 14 months and is now 5.2% below the peak in July 2008.
Note: The Fed reports a simple annual rate (multiplies change in month by 12) as opposed to a compounded annual rate. Consumer credit does not include real estate debt.
Posted by Calculated Risk on 4/07/2010 03:08:00 PM