Consumer Credit: Still Contracting

**  Consumer credit fell $11.5 billion in February, more than reversing January’s gain (the increase in consumer credit in January was upwardly revised to $10.6 billion from an initially reported $5.0 billion increase—this was the first increase in consumer credit since January 2009).  The decline in consumer credit in February was mostly due to a drop in revolving credit outstanding (credit cards), which fell $9.5 billion.

Source RDQ


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