U.S. Credit Card Debt Falls for a Record 10th Straight Month

The 'frugal consumer' era continued in November. Outstanding U.S. consumer debt fell by a record $17.49 billion in the month, to $2.46 trillion. This marks the 10th straight monthly credit decline, the U.S. Federal Reserve announced Friday. In a Bloomberg News survey, economists had expected November consumer credit to contract by $5.5 billion.