Loan growth slows at U.S. banks -Federal Reserve
Aug 10 (Reuters) - Loan growth at U.S. banks slowed in July, the U.S. Federal Reserve said on Friday.
U.S. bank loans grew by 5.0 percent in July from a year earlier to $7.1 trillion -- slower than the 5.3 percent growth in June 2012. July's deceleration snapped a 10-month streak of accelerating loan growth.
Banks cite a combination of factors for the slowdown in loan growth, including growing worries about the U.S. recovery, Europe's turmoil, concerns about federal spending and uncertainty about tax laws that could follow the presidential election.
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