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Friday, June 05, 2009

Consumer Credit G.19







2008 2009

2004 2005 2006 2007 2008 Q1 Q2 Q3 Q4 r Q1 r Feb r Mar r Apr p
Percent change at annual rate 2
Total 5.5 4.3 4.5 5.5 1.7 4.8 3.9 1.3 -3.2 -3.5 -5.1 -7.8 -7.4
Revolving 3.8 3.1 6.1 7.4 2.3 7.6 3.5 4.6 -6.5 -8.9 -13.9 -11.2 -11.0
Nonrevolving 3 6.4 4.9 3.6 4.4 1.4 3.1 4.2 -0.6 -1.1 -0.3 0.2 -5.8 -5.3

Amount: billions of dollars
Total 2191.6 2285.2 2387.7 2519.0 2562.3 2549.0 2574.1 2582.8 2562.3 2539.7 2556.2 2539.7 2524.0
Revolving 799.8 824.5 874.6 939.5 960.9 957.3 965.8 976.8 960.9 939.6 948.4 939.6 931.0
Nonrevolving 3 1391.8 1460.7 1513.1 1579.5 1601.4 1591.7 1608.3 1606.0 1601.4 1600.1 1607.8 1600.1 1593.0


These numbers get revised, but this is enough to show the trend. This is the seasonally adjusted version. Note that revolving credit was paid down heavily in February and March. That is from households using their tax refunds to pay.

The rest is both writeoffs and payoffs. Until this ends, the consumer side of the economy is set to keep declining. As revolving credit growth slowed in 2008, so did sales. Now that people are forced to buckle down and pay it off, things look to continue slow.

This release contains data on credit given to consumers by commercial banks and finance companies that is not secured by real estate.

Update: Oh, gee, it might be nice if I gave y'all a link to the actual report, huh? My only excuse is that I am very excited. Chief Metalheart returned home from the doctor, covered in glory and brandishing some pretty sterling test results. He has been behaving. When my own thankful heart stops throbbing I'll actually post something useful I did a while ago.

Comments:
And to think, you gave him a bad time for indulging in the banana nut loaf. :) Glad to hear his test reports were good.
 
Good news from the Dr.- Fantastic!
 
Glad to hear the test results were good.
 
John - he only got three pieces. I called upon the bulldog to heroically throw herself upon the baked grenade. She sprang to his defense with admirable fervor and total lack of regard for her own safety. After that I substituted sugar-free angel food cake.

Don't think I am being neurotic about this, either. The Chief's fasting glucose was 103, and his A1c was 5.9 with a mean plasma glucose of 133. Those readings are a bit high, especially for someone with his genetic background.

The danger for someone predisposed to Type II diabetes is that they will modify their fat and protein intake by adding too much carbs and will tip right over. The Chief had gotten his cholesterol so low that the doc reduced his cholesterol medication to the equivalent of 10 mg Lipitor on a generic.

I am trying to get the Chief to adopt a semi-type II diet to drop his risk of developing Type II. This will further reduce his risk factors.

The way the Chief is going is great, He is in much better health than even six months ago. If he continues to live the relatively pure life, he may ultimately be off almost all medication in about 4 years. And that is crucial, because the risk of these medications rises as you get older, and the Chief's liver has had enough to cope with already.
 
I hear you, but couldn't resist teasing about the banana nut loaf. :) Chief's lucky to have you.
 
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