Banks are finally seeing some serious momentum in credit growth. But will it matter this time?
Both businesses and consumers dramatically increased the pace of borrowing in the second quarter. According to Autonomous Research, outside of the stimulus-aided boom at the start of the pandemic, seasonally adjusted US bank loans hit an annual 15% quarter-on-quarter growth rate in the second quarter through June 29, a quarter since 1984. I will be the fastest. The tracking of Federal Reserve data analyst Brian Foran. The fastest growth was in commercial and industrial lending, at an annual pace of about 24%.