Bank credit collapsing

Hey folks,
One of the things I look at for predicting recessions is the Bank credit. Well, this data comes out every week on Friday. The bank credit increased by 500 Billion dollars on a yoy basis, a major decline from 927 Billion dollars in Oct 2016.

The commercial and industrial loans started a decent in Apr of 2016 at 195 Billion dollars. By April 2017 this number came down to 52 Billion$.

I think, we have 6 more months before either of this series starts contracting and we will probably have a full blown recession starting.