Consumer Credit Drops Again

U.S. consumers credit fell for a sixth straight month, as total credit fell to $2.42 trillion, a drop of $3.6 billion. Revolving credit decreased at an annual rate of 6.25%. This includes things like car loans, and credit cards. Nonrevolving credit increased at an annual rate of 0.5%. Analysts had been expecting a drop of $4.2 billion, so these numbers are being perceived as a bit better than expectations.