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Credit Card Debt Increases While Overall Consumer Debt Falls in September

by Peter Andrew

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Card Debt Increases While Overall Consumer Debt Falls in September

Consumer debt fell slightly in September, but

it was non-revolving debt such as a drop in car loans that caused

the change -- credit card debt and other revolving debt continued

to rise.

According

to Federal Reserve statistics released Monday, credit card and

other revolving debt jumped 4.7% in September, and 2.7% for

the full third-quarter. Non-revolving debt fell 2.8% in September,

after large increases of 9.3% and 4.6% in July and August respectively.

Despite September's drop, the significant July/August increases

lead to an overall 3.7% increase in non-revolving debt in the

third quarter.

 

Published 11/08/05 (Modified 01/21/13)


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