Consumer Credit Decreases Again After Rising in January

The Federal Reserve reported that consumer credit (seasonally adjusted) fell in February 2010, after posting an increase for the first time in a year in January 2010.

Consumer credit fell at an annualized pace of 5.6 percent in February to $2.4479 trillion, down from a revised $2.4594 trillion in January. Revolving credit in February fell at an annual rate of 13.1 percent to $858.1 billion. Revolving credit has now fallen in 16 of the last 17 months. Non-revolving credit in February declined at an annualized rate of 1.6 percent, after posting annual growth rate of 6.9 percent in January. As of February 2010, non-revolving credit was almost $1.5898 trillion.

10.04.01 (Source: Federal Reserve)