Business Insider: Bank Credit is Shrinking for the First Time Since the Great Recession - and That's a Red Flag for the Economy
Article by George Glover in Business Insider
A key gauge of economic health in the US has sunk into negative territory, adding credence to some of Wall Street's more pessimistic growth predictions.
Bank credit levels have now fallen for three quarters in a row, according to the Board of Governors of the Federal Reserve System – the first sustained contraction since 2010.
This is only the second such decline in more than half a century. The last one was during the Great Recession, brought about by the global financial crisis of 2008-2009.
The extended slump in bank lending comes as .....