Tuesday, November 17, 2009
In my blog post one week ago I mentioned that lending may be on the rebound as we saw the first increase in 17 weeks.
New data out from the Fed indicates that loan growth advanced sharply for a second week in a row. Total loans and leases surged $83.2 billion in the period 10/28 to 11/4 and is up almost $95 billion over the last two week reporting period.
This is good news for the economy especially since it comes at a time when government spending seems to be thottling back. (I have been covering this in my daily report, Fiscal Trend Digest. To get a free, 30-day trial please email me.)
Up $95 billion!