Reuters – A weak job market and tight credit conditions caused consumer credit to fall $1.73 billion in December, the eleventh straight monthly decline, a report from the Federal Reserve showed on Friday.
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AP – Consumers likely borrowed less for a record ninth straight month in October as households faced tight credit conditions and unemployment that hit a 26-year high. A further decline in borrowing would be more evidence of weak consumer spending, making it harder for the economy to mount a sustained rebound.
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