Dramatic Fall in Consumer Credit This February

Filed under: Analyst Reports, Forecasts, Industry, Consumer Experience, Market Matters, Economic Data, Personal Finance, Headline News, S and P 500, Federal Reserve, Recession

Consumer credit dropped in February, falling by $11.5 billion. Economists had predicted only a $700 million decline. the drop was the 12th in 13 straight months.



Americans practically closed their wallets. compared to their lavish spending habits of the past. This is an important shift, since consumer spending accounts for 70% of GDP. Here is a breakdown of the numbers:

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