Some Retailers Thrive Despite Tight Credit By Vincent Farrell Jr. About this article: Last week consumer credit for September fell by $14.8 billion, marking the eighth consecutive month the consumer pulled in his or her horns. Consumers apparently continue to believe they are too highly leveraged and are working to pay down debt. Banks are still tightening lending available to consumers and small businesses, and are even pulling existing credit lines from established customers. It isn't possible to tell from the data if the drop in credit outstanding came from consumers cutting back willingly or from credit being withdrawn. But it may not matter since a drop in credit for whatever reason means lower total consumer spending. Consumer debt as a percentage of income is lower than just a few months ago but still way above normal. It peaked at something like 136% of income and is now closer to 125%. But the long-term average is closer to 93%... Or, call us at 1-866-321-TSCM (8726) Monday-Friday, 8 a.m.-6 p.m. ET. Outside the U.S. and in Canada, call 1-212-321-5200.

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