Consumer Credit July 2009 – 7th Monthly Contraction Straight

total-consumer-credit-US-julyb-2009

The unprecedented contraction in consumer credit continues to run its course. Since I called the peak in consumer credit in December, it has to date imploded by $134.5 billion. In July 2009, total consumer credit outstanding contracted by another $17.9 billion to now $2.457 trillion from $2.475 trillion in June.


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