Consumer Debt Falls Again : Planet Money Consumer credit fell for the 9th straigh month but declined less than in most other periods this year, the Federal Reserve reported Monday.

Consumer Debt Falls Again

U.S. consumers' outstanding credit debt fell for the ninth month in a row in October, but the decline was lower than it has been in most previous periods this year, the Federal Reserve said Monday.

Outstanding balances of consumer credit fell by $3.51 billion, or 1.7% annualized, in October to $2.482 trillion. Revolving credit - mostly credit cards - fell by $6.95 billion, or 9.3% annualized, to $888.1 billion. Nonrevolving credit, such as auto loans or student loans, rose by $3.44 billion, or 2.6%, to $1.595 trillion.