CHART OF THE DAY: The US Consumer Gets A Big Shot In The Arm

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The latest reason not to worry about an imminent recession: credit is coming back.

The latest Fed consumer credit report shows a significant jump in revolving (AKA credit cards) consumer credit.

In fact, at over $8 billion, it’s the biggest jump since the beginning of the financial crisis.

chart of the day, fed revolving consumer credit, july 2012

Photo: FRED

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