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The latest Federal Reserve G.19 Consumer Credit report is out for the month of August 2009 showing that consumer credit outstanding overall decreased at an annual rate of 5-3/4 percent in August 2009. Revolving credit outstanding decreased at an annual rate of 13 percent, and nonrevolving credit decreased at an annual rate of 1-1/2 percent. The rate of decline in revolving consumer credit is the steepest reported in several years.
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