Tuesday, November 17, 2009

Lending surges!



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!

4 comments:

googleheim said...

HI MIKE AND MATT

I RECENTLY HAVE BEEN STOPPING MORE FREQUENTLY THAN EVER SINCE 2007 AT TRAIN STOPS IN HOUSTON TEXAS.

THAT MEANS THAT THE PORT OF HOUSTON ( WHICH IS SOMETHING LIKE # 1 IN THE USA OR SOMETHING WITH RESPECT TO TONNAGE BUT NOT PHYSICAL SIZE ) IS STARTING TO COOK.

I BET MATT COULD EASILY LOOK UP STATISTICS ON TRAIN ACTIVITY AND SHOW THE SURGE TOO.

THAT MEANS BUFFET JUST BOUGHT INTO TRAIN COMPANIES JUST WHEN IT WAS TIME TO GET PICKY.

I GUESS THEY WILL USE THIS AS A COVER FOR BASHING BANKS INTO FDIC AND SEIZING THEIR ASSETS SO THEY CAN GET RICH LATER.

Mike Norman said...

Goog,

Interesting anecdote!

-Mike

googleheim said...

RTC - resolution trust corp

parte deux !

Matt Franko said...

Goog,
I looked and could not find anything recent. From a few months ago I found something that said volume was stabilizing but still down 15-20% YoY.

Could you have been witnessing re-routing due to hurricane Ida? Over to Houston from Pascagoula/Mobile.