-->U.S. consumer credit falls record $8.7 billion; largest monthly decline since 1943...

U.S. consumer credit falls record $8.7 bln in Nov
Fri Jan 7, 2005 03:05 PM ET

WASHINGTON, Jan 7 (Reuters) - U.S. consumer debt outstanding fell a record $8.7 billion in November, the Federal Reserve said on Friday in a report showing a sharp drop in credit and charge card activity.

The monthly decline -- the largest since the data series was started in January 1943 -- defied Wall Street expectations of a $6.0 billion increase in consumer credit.

More, with other stories, at http://biz.yahoo.com/n/z/z0000.html
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In November, consumer credit contracted at an annual rate of 5 percent. Revolving credit fell at an annual rate of 11 percent, while
nonrevolving credit edged down at a 1 percent pace.

Details...

http://federalreserve.gov/releases/g19/current/default.htm