Sign "O" the Times

Banks are putting the squeeze on consumer credit:

June Consumer credit only grew by $6.5 billion in June according to the Federal Reserve, via Bloomberg.

That’s well below The $10.25 billion that was expected.

It’s also well below the $16.69 billion in the month before.

Dow Jones notes that it’s the slowest pace in 8 months.

Revolving credit actually shrunk 5.1%, which is ominous.

But… but… I thought the last jobs report meant we were safe from the double dip!