The Federal Reserve released their consumer credit numbers. Note that this is data for May. The summary:
Consumer credit decreased at an annual rate of 4-1/2 percent in May 2010. Revolving credit decreased at an annual rate of 10-1/2 percent, and nonrevolving credit decreased at an annual rate of 1-1/2 percent.
Revolving credit has been declining pretty steadily since late 2008.
Total nonrevolving credit, on the other hand, simply stalled.
Deflationary pressures linger (as is their tendency).
