WHOOSH: Consumer Credit Drops For 11th Straight Month

credit card debit plastic pay swipe

Here’s more buying power coming out of the economy.

Outstanding debts held by consumers fell for the 11th month in a row by a seasonally adjusted $1.73 billion, or an annualized rate of 0.8% in December.

For what it’s worth this is way better than the 10.7% drop in November

The official release can be found at the Federal Reserve.

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.