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Monday, March 8, 2010

Consumer Credit Grew in January (!)

from Business Insider, 3/5

Update:  Rosenberg on 3/8 (ref next post)
"Mr. Market loved the news on Friday that consumer credit managed to eke out a $5 billion gain in January versus consensus estimates of -$4.5 billion. The bulk of the gain came from auto loans, which have since turned lower. This was the first increase in a year and while it has created tremendous enthusiasm that credit demand is staging a comeback, this is more than likely nothing more than a blip on the secular downtrend."

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