Against expectations of a $17 billion surge, US consumer credit grew at just $10.5 billion – the weakest and biggest miss since March 2013. The biggest driver of this disappointment was an actual contraction in revolving credit (down $1.1 billion) for the first time since Feb 2015.
On an percentage basis, given December’s massive downward revision – December and January’s 0.48% rise in consumer credit is the weakest since Sept 2011…
This is not what The Fed demands…
via Zero Hedge http://ift.tt/21TuLcl Tyler Durden