Contrary to last week’s jam-packed economic calendar, this week will be extremely light. There’s no news today, and then very little over the next four days.
But there’s one number we’re very excited to see, and that’s consumer credit, which comes out at 3:00 PM ET tomorrow (Tuesday).
November’s number clobbered estimates, and revolving consumer credit, for the first time since the credit bust, saw flat year-over-year growth, as shown here.
It’s pretty hard to be bearish about any aspect of the economy with credit expanding. Another improvement here to clearly positive year-over-year growth would be uber-bullish.