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Politics : Stockman Scott's Political Debate Porch
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To: Jim Willie CB who wrote (11301)1/8/2003 3:04:40 PM
From: Sully-  Read Replies (1) of 89467
 
15:03 ET Consumer Credit fell $2.2 bln in November vs +$3.9 bln consensus : Consumer Credit actually contracted in November after a weak October gain. Interestingly, consumption was reasonably strong in both months, so the implications of this number are ambiguous. It could be read as indicating a pullback in consumers is underway, though spending numbers don't support this. Or it could be read as an indication that higher incomes are allowing for more spending, rather than higher debt. Or the numbers could just be wrong (that wouldn't be a first). There are too many contradictory messages in the data to know what to make of this number.
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