February 7th, 2011
Econintersect: Consumer credit improved in December in the U.S.. This is something that happens every December because of the holiday season. The increase was very weak in December 2008 and 2009, but in 2010 the December credit increase was just under 90% of the amount seen prior to the recession.
Follow up:The increase was almost entirely from revolving credit (primarily credit cards). The very small non-revolving credit increase was also typical of pre-recession Decembers and was an improvement over 2008 and 2009 when non-revolving credit declined in December.
Non-revolving credit is used for large item purchases such as automobiles.
Full anaylsis available at GEI Analysis.....