Consumer Credit outstanding dived by a record -$17.5bn in November, compared to a revised -$4.2bn decrease in October. The Bloomberg consensus forecast was anticipating a more moderate -$5.0bn decline. Individual estimates ranged from -$10.0 bn to a high of -$2.0bn. Revolving credit credit card balances) fell by -$13.7bn in November compared to a decline of […]
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It is a good thing investors will have the entire weekend to recover from their New Year’s celebrations, because 2010 is starting with a bang, at least in terms of economic data. Undoubtedly, the week’s most critical release will be Friday’s employment report, where excitement is building that payrolls could show their first monthly advance […]
This week is relatively quiet on the economic front, following last week’s tsunami of data culminating in a much better than anticipated employment release. This week’s theme is the consumers, who have the potential to stymie last week’s positive sentiment depending on sales strength during the Black Friday shopping weekend. The week’s primary release will […]
Based on last week’s negative performance on the back of several pieces of melancholy economic news, some investors may argue September has come late this year. Looking ahead, we have a pretty quiet week on the data front, which may cause investors, still trying to heal from last week’s wounds, to place added emphasis on […]
US consumer credit fell US$21.55bn in July, or 10.4% on an annualized rate. This is the largest monthly decline consumer credit has ever experienced. This was also the index’s 6th consecutive month of declines. The government’s ‘Cash for Clunker’s’ program did little to stem a a record US$15.44bn decline in non-revolving credit, while revolving credit, […]
With the shortened week comes a rather light economic calendar, with the most significant release likely being the Fed’s Beige Book on Wednesday, followed by consumer sentiment on Friday. This week’s lull will come to an abrupt end next week with the release of the retails sales and Industrial production data, among others. In addition […]
Consumer credit fell -US$10.3bn in June, with May’s release being revised down to -US$5.4bn. The street consensus was for a drop of -US$5.0bn. This index does not included mortgages or any loans backed by real estate. Looking at the index’s components, revolving credit (credit card balances) dropped -US$5.4bn in June compared to -US$4.9bn in May. […]
This week’s economic calendar is relatively quiet, especially compared to the hustle and bustle of last week. Monday’s non-manufacturing ISM report starts the week off, followed by Wednesday’s consumer credit report, Thursday’s jobless claims data, and Friday’s US trade statistics and consumer sentiment. The impact of this week’s non-manufacturing ISM report could be somewhat subdued […]