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CONSUMER CREDIT FALLS AGAIN THESTREET COM
WASHINGTON TheStreet -- Consumer credit fell yet again in October, in the ninth straight month of decline for the measure.
The Federal Reserve announced on Monday that consumer credit fell by $3.51 billion, or an annual rate of 1.7%, during the month to $2.48 trillion. This was significantly less that the $9.3 billion decline economists expected.Revolving credit, which mostly consists of credit cards, fell by $6.95 billion, or an annual rate of 9.3%, to $888.1 billion; while nonrevolving credit, such as auto loans or student loans, rose by $3.44 billion, or 2.6%, to $1.59 trillion.-- Reported by Jeanine Poggi in New York.Follow TheStreet.com on Twitter and become a fan on Facebook.>To order reprints of this article, click here: ReprintsShould you weather the storm, or exit the market?
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Quotes delayed at least 20 minutes for all exchanges. Market Data provided by Interactive Data. Company fundamental data provided by Morning...[more]
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