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US Consumer Credit Declined Dramatically in November

Tags » Consumer Debt, Credit Card Debt Counseling, Credit Cards, Financial Regulators » Comments (0)

The latest G.19 Consumer Credit data released today by the Federal Reserve shows that US consumer credit decreased at an annual rate of 3.75% with revolving credit declining at an annual rate of 3.5%. CreditCards.com reports that the decline is the largest percentage drop since 1998 and the largest ever decline in dollar terms.

Posted: Jan 8, 2009 12:44 PM Pacific | Permalink | |

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