Adjusting for the FASB accounting changes effective end of Q1 2009, there has been a $105 billion dollar drop in consumer loans since the peak in February 2009, and has been trending steadily down.
What does this mean? Generally speaking, in a fractional reserve system, debt must increase in order for the economy to grow. Debt decrease = economic decrease. Ergo, I would anticipate disappointing sales figures in aggregate when 4Q earnings are reported in January/early February.