Consumer Credit falls by a record $17.5 billlion. More than $5 billion expectations
The consumer credit fell by a record 17.5 billion in November. Revolving Credit (credit card) fell by -$13.7 bilion and Non revolving (auto loans, mobile homes) fell by -$3.8 billion. The fall is a combination of lower spending and tighter credit standards.
I would expect the weak number to pressure the dollar on the back but it is Friday.
