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SLOOS – Loan Demand Falls Further With Somewhat Mixed Progress

US DATA
  • Loan demand meanwhile also continued to decline on a sequential basis, but details were a little more mixed, ranging from similar declines to reasonable moderation.
  • C&I loan demand saw the largest moderation in the rate of decline in loan demand, especially for small firms correcting from readings that before recent quarters were last seen in 2009.
  • CRE loan demand fell at a marginally softer rate on balance, as did the myriad of categories for residential mortgages but progress is slow (e.g. qualified mortgages non-jumbo and non-GSE only increased from -55.1 to -51.9).
  • Consumer loans remain the category closest to seeing positive loan demand changes, led by credit cards (from -9.1 to -6.4) but with other non-credit card and auto loans close (from -26 to -9.4).

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