Consumer credit down by most since April 1992 - MarketWatch

Consumer credit down by most since April 1992 - MarketWatch: "WASHINGTON (MarketWatch) -- U.S. consumer credit outstanding fell by the biggest amount since April 1992 in September as households took out fewer loans for items like automobiles and boats, the Federal Reserve said Tuesday.
Total consumer credit fell by $1.20 billion in September, or by a seasonally adjusted annual rate of 0.61%, to $2.366 trillion, the Fed said.
In April 1992, outstanding consumer credit fell by $1.78 billion, according to the Fed.
The decline was unexpected. Wall Street economists surveyed by MarketWatch were expecting consumer credit to grow by $5.4 billion in September. See Economic Calendar.
Most of the decline was in so-called nonrevolving credit, like loans for cars and boats. Nonrevolving credit fell by $4.05 billion, or by a seasonally adjusted annual rate of 3.21%, to $1.50 billion. "