Fed Reports Another 13% Decline in Revolving Consumer Credit
On Friday, the Federal Reserve released its G.19 Consumer Credit report for the month of September 2009 showing that consumer credit outstanding overall decreased at an annual rate of 7.2 percent in August 2009. Revolving credit outstanding decreased at an annual rate of -13.3 percent, and nonrevolving credit decreased at an annual rate of -3.7 percent.
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