MISS: June Consumer Credit Rises Less Than Expected, And Credit Card Debt Actually Shrinks

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Photo: Flickr / allaboutgeorge

MISS: June Consumer credit only grew by $6.5 billion in June according to the Federal Reserve, via Bloomberg.That’s well below The $10.25 billion that was expected.

It’s also well below the $16.69 billion in the month before.

Dow Jones notes that it’s the slowest pace in 8 months.

Revolving credit actually shrunk 5.1%, which is ominous.

Read the full report here.

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