NY Fed: consumer debt declines
The New York Federal Reserve Quarterly Report on Household Debt and Credit for February, published on Monday, said debt aggregate consumer debt continued to decline in the fourth quarter of 2010, continuing its trend of the previous two years.
The report said as of December 31, 2010, total consumer indebtedness in the US was $11.4 trillion, a reduction of $1.08 trillion, or 8.6%, from its peak level at the close of the third quarter of 2008, and 1.3% below its September 30, 2010 level.
The
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