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Wednesday, 01/11/2006 3:45:05 AM

Wednesday, January 11, 2006 3:45:05 AM

Post# of 217782
U.S. consumer credit falls for 2nd month in a row
2006-01-09


WASHINGTON (AFX) - Outstanding U.S. consumer debt fell in November for the second month in a row for the first time in 13 years, the Federal Reserve said Monday. Outstanding credit dropped at an annual rate of 0.4%, or $649 million, in November to $2.156 trillion. In October, credit fell a revised $8.4 billion, or a 4.7% annual rate. Economists surveyed by MarketWatch were expecting credit to increase about $4.8 billion in November. In November, revolving, or credit card, debt, increased $335 million, or 0.5%. Nonrevolving debt, such as auto loans, fell $984 million, or 0.9%.

This story was supplied by MarketWatch. For further information see www.marketwatch.com


http://www.iii.co.uk/news/?type=afxnews&articleid=5516578&subject=markets&action=article

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