Category Archives: David Nice
In March total consumer credit outstanding posted its 19th consecutive month of growth. Total Credit expanded by $8.0 bil., comprised of a $9.7 bil. expansion in nonrevolving and a contraction of $1.7 bil. in revolving credit (see chart below). On the surface this data appears promising:
Weekly unemployment claims moved back above the 350,000 threshold to 360,000 during the week of May 11. Read more
The number of Americans filing new unemployment claims last week declined by 18,000 to 324,000. That is the lowest weekly level since 2008. The four-week moving average, which helps smooth out noise in the weekly figures, also declined by 16,000 to 342,250. The largest decreases in claims were in California and New York.
Weekly jobless claims (see blue line in chart below) declined by 16,000 for the week ended April 20. That is the lowest level since the beginning of March and near the lowest level since January 2008. The more important, 4-week moving average (see green line in chart below), which smoothes out one-off factors, also headed lower, down [...]
Consumer credit continues to expand, led by robust gains in non-revolving credit, especially student loans. Revolving credit, such as credit card balances, posts meager gains in February.
Consumer Credit Extends Gains in September Total consumer credit posted another gain of $11.4 billion for September. This follows a larger gain of $18.4 billion in August, bringing two-month growth to $29.8 billion. The trend that has developed over the past several months continued, with non-revolving credit (e.g., auto loans) leading the expansion with a [...]