US loan growth rate the highest since the recession
by Sober Look
US credit growth continues to accelerate, reaching the highest year-over-year pace since the Great Recession.
In a complete contrast to the situation in the Eurozone, both real estate (particularly commercial) and consumer credit growth rates have improved materially this year. Consumer credit is no longer just driven by autos, with credit card debt picking up as well.
The only major headwinds for this trend currently are some of the geopolitical risks (Iraq, Russia, etc.). Consumers, companies, and banks are still fairly jittery and it won’t take much to dampen the supply of and/or the demand for credit.