Consumer Debt Falls .6% In Q3
Consumer debt fell an extremely modest .6% in the third quarter compared to the second according to the New York Federal Reserve The report said Aggregate consumer debt fell approximately $60 billion to $11.66 trillion in the third quarter of…
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Consumer debt fell an extremely modest .6% in the third quarter compared to the second according to the New York Federal Reserve
The report said
Aggregate consumer debt fell approximately $60 billion to $11.66 trillion in the third quarter of 2011 according to the Federal Reserve Bank of New York’s latest Quarterly Report on Household Debt and Credit. Total consumer indebtedness decreased roughly 0.6 percent from revised second quarter findings of $11.72 trillion. The newly issued report also presents information on various aspects of consumer debt, including continuing and emerging trends for mortgage balances, delinquencies, foreclosures and other consumer credit activity.
“The decline in outstanding consumer debt reveals that households continue to try and deleverage in the wake of a challenging economic environment and large declines in home values,” said Andrew Haughwout, vice president in the Research and Statistics Group at the New York Fed. “However, our findings also provide evidence that consumer credit demand continues to increase, a positive sign for consumer sentiment.”
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A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
