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Strategies & Market Trends : Joe Stocks Trader Talk

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To: Joe Stocks who started this subject	4/6/2002 10:04:06 AM
From: Joe Stocks	of 787

Consumer credit from "bond talk".3:00 PM ECONOMY TALK: Consumer credit rose $7 billion in February, below expectations for a $7.5 billion increase. And January's consumer credit was revised down to show a $7 billion increase compared to the initial estimate of +$12.9 billion. Consumer credit growth has slowed in 2002 after rising $34.5 billion in the fourth-quarter on the back of strong auto sales. But rates on new car loans rose to 6.07% in February from 4.02% in January and 2.97% in the fourth quarter. As a result, nonrevolving credit growth has slowed to a 7.9% rate in February from 14.3% in the fourth quarter. Meanwhile, revolving credit grew 1.2% in February, down from a 2.4% rate in January but up from a 0.7% fourth-quarter rate. Late responses were responsible for the large downward revision to January.

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