Photo: Flickr / josemanuelerre
ORIGINAL UPDATE: One of our favourite datapoints coming out: April consumer credit comes out at 3:00 PM ET.Analysts expect $11 billion worth of new credit, down from $21 billion.worth last month.
We’ll have the number here LIVE.
It’s a miss!
Consumer credit only grew $6.5 billion in April.
That’s well below expectations of $11 billion. Furthermore, the month before was revised down from a gain of $21.3 billion to $12.3 billion.
MORE: The full report is here, and one thing that stands out is that revolving credit actually shrunk.
Overall, a pretty punk report.