Consumer credit: Falls for a record ninth month - but significant revisions to earlier data show...

|By:, SA News Editor
Consumer credit: Falls for a record ninth month - but significant revisions to earlier data show that debt didn't decline as steeply as thought in 2009. Outstanding balances fell in October by 1.7% annualized ($3.51B, vs. expected $10B) to $2.482T. Revolving debt dropped 9.3% annualized; nonrevolving debt rose 2.6%. Total debt outstanding at September's end revised higher by $30.6B, to $2.486T.