A lighter economic week to some extent—at least compared to last week.

Consumer credit growth slowed in June, to $6.46 billion, which is about half of what was expected by analysts.  This can be a tricky measure, though, as slowing credit may mean less spending (due to Americans’ tendency to use credit cards extensively), or may mean income is growing and we don’t need the credit as much).  The ‘non-revolving’ credit (non credit card) piece increased by a large amount, mainly due to government student loans. Read more