REVOLVING CREDIT & COFS CONTINUE DOWNWARD TREND
In conjunction with U.S. credit card delinquencies plummeting to a near six-year low- with 60+ day delinquencies dropping for the 19th straight month by another 31 basis points (bps) to settle at 2.15%- total outstanding revolving credit dropped from $795.9 billion to total $792.5 billion in July for the first drop in 2 months. This…