Consumer credit card debt falls
New statistics from the Federal Reserve show that the annual revolving consumer credit debt fell 13.3% in September. That drop might indicate that consumers are paying debt off and using credit less. The 13.3% drop was from $898 billion in revolving consumer credit debt to $889 billion in revolving consumer credit debt.
Non-revolving credit debt, measuring credit such as auto loans, dropped from $1.57 trillion to $1.56 trillion for a 3.7% decline.
