Fed Says Revolving Credit Outstanding Shrank 5.5% in Dec 2008
According to today's G.19 Consumer Credit report issued by the Federal Reserve for December 2008, "consumer credit decreased at an annual rate of 3 percent in the fourth quarter. Revolving credit decreased at an annual rate of 5-1/2 percent, and nonrevolving credit decreased at an annual rate of 1-3/4 percent. In December, consumer credit decreased at an annual rate of 3 percent."
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