Plastic palls. (The Week in Review).

Investment News, February, 2002 by Gabriel, Frederick P. Jr.

* You know times are tough when Americans cut back on their use of plastic. Overall consumer credit out-standing fell unexpectedly in December as shoppers put fewer of their Christmas gifts on credit cards, the Federal Reserve said Thursday. Consumer credit outstanding fell $5.1 billion in December -- the biggest drop since December 1990.

"Consumers did not run up huge Christmas buying bills," said Ken Mayland, president of ClearView Economics LLC, an economic co suiting firm in Pepper Pike, Ohio. Revolving credit outstanding fell $8.1 billion, while non-revolving credit rose by $3.1 billion in the month, the Fed said.