Credit check, Atlanta Fed

Still decelerating, and data releases seem to confirm that the credit deceleration is reflecting something similar in the macro economy:

Annual growth is down to about 1.5%:

This would have been maybe $500 billion higher if it had not decelerated:

Housing and cars contribution to growth also looking a lot lower than last year:

This chart is only through year end. It’s since decelerated as per the above current charts. Note how the downturn in credit growth tends to lead recessions:

And forecasts for last quarter, Q2, continue to fall: