Consumer credit falls 4.4% from year ago levels

Consumer credit falls 4.4% from year ago levels

WWW.CREDITWRITEDOWNS.COM - The Federal Reserve has just released the most recent data on consumer credit. The data show outstanding consumer credit falling to $2.47 trillion in August from a December 2008 peak of $2.59 trillion – on a non-seasonally adjusted (NSA) basis. That is down 4.4% from the year ago period, continuing the acceleration of the year-on-year change that has been in place for 15 straight months. The...

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