Con­sumer Debt Ta­pers Off As Credit Card Loans Fall

The Bond Buyer - - Market News -

U.S. con­sumer debt posted the small­est in­crease in three months as credit-card loans fell, sug­gest­ing Amer­i­cans had lim­ited ap­petite to spend be­yond their means, Fed­eral Re­serve fig­ures showed Wed­nes­day.

To­tal credit rose $10.9 bil­lion in Septem­ber from the prior month, com­pared with the me­dian es­ti­mate of economists in a Bloomberg sur­vey for a $15 bil­lion in­crease. That fol­lowed an up­wardly re­vised $22.9 bil­lion gain in Au­gust.

The data re­flected a $312 mil­lion de­crease in re­volv­ing debt, the third de­cline in six months. That fig­ure, which in­cludes credit cards, shows con­sumers were stay­ing cau­tious on run­ning up such debt to­ward the end of the third quar­ter.

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