AMERICA'S economic recovery will soon be two vears old. vet it remains disappointingly weak. That is due, more than anything, to the painful process of deleveraging, as banks and borrowers work off a mountain of debt. There are, however, glimmers of a turnaround. A survey released on May 2nd by the Federal Reserve found more banks easing standards for consumer loans than at any time since 1994. And sure enough the figure for consumer loans excluding property has risen in recent months (see chart).
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