Consumer credit fell for the eighth straight month in September, according to a report released by the Federal Reserve on Friday, with the decrease exceeding economist estimates.
The Federal Reserve said that total consumer credit fell by $14.8 billion or 7.2 percent in September to $2.456 trillion. Economists had been expecting a decrease of about $10 billion.
The continued decrease in consumer credit reflected decreases in both revolving credit and non-revolving credit.
Revolving credit, which includes credit card debt, fell by $9.9 billion or 13.3 percent to $889 billion.
Non-revolving credit, which includes car and student loans, fell by $4.9 billion or 3.7 percent to $1.567 trillion.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.