Consumer Credit Report: Credit Card Usage Down For Third Month

U.S. credit card debt dropped $883 million to around $850 billion, which may hold back consumer spending, according to the New York Times. The U.S. Federal Reserve published a report on consumer credit that indicated consumers cut back on credit card usage for the third consecutive month in August. The data showed that consumer credit advanced by $13.63 billion to $3.04 trillion. Full article.