Weekly Market Insights

Monthly Change in Total Consumer Credit

Monday, March 08, 2010

Overshadowed by Friday’s employment situation report from the Labor Department, the Federal Reserve released its G19 report, which stated that total consumer credit increased by 2.4 percent in January, ending a string of 11 consecutive monthly declines. This report, together with last week’s report from ICSC that chain store sales rose by 3.7 percent in February, suggests that consumers are beginning to climb out of their bunkers and cautiously make some purchases that they put on hold last year. If the trend continues, it would be good news not only for retailers and shopping center landlords but also for overall GDP, 70 percent of which is fueled by consumer spending.

Source: Federal Reserve, Grubb & Ellis 

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