U.S. consumers' efforts to pay down their credit card debts continue. Outstanding U.S. consumer credit fell by $14.8 billion or at a 7.2 percent annual rate in September -- the eighth straight monthly credit decline, the U.S. Federal Reserve announced Friday.

Economists surveyed by Bloomberg News had expected to see a September consumer credit contraction of $10 billion, after a revised $9.9 billion decline in August, and a $19 billion plunge in July. Consumer credit is down 4.7 percent compared to a year ago, and balances have fallen in 12 of the past 14 months.

In September, total outstanding consumer credit, including revolving and non-revolving credit, declined to $2.46 trillion, or by 4.7 percent compared to a year ago, the Fed said. In Q3, total outstanding debt declined at a 6.1 percent annual rate; it fell at 6.6 percent and 3.7 percent annual rates in Q2 and Q1, respectively.

I'm placing a Hold on shares E.I. du Pont De Nemours (DD), also known as DuPont, first recommended on April 22, 2009 at a price of $27.48. If you bought DD in April, you're up about 20 percent.

Look for DD's coatings and color technologies business to begin to recover in 2010, on the U.S./global recoveries. However, DD's pharmaceuticals unit will face a tougher 2010, due to patent expirations. The First Call FY2009/FY2010 EPS estimates for DD are $2.01 to $2.22.

Recession or expansion, tepid or roaring commerce conditions, there's been one constant in the U.S. economy: Worker productivity continues to increase.

U.S. worker productivity surged at an annualized rate of 9.5 percent in the third quarter, with unit labor costs falling at a 5.2 percent rate, the U.S. Labor Department announced Thursday, as companies increased output even as they continued to trim payrolls. What's more, it was the highest increase in productivity in six years.

More good news on the employment front: Initial jobless claims fell 20,000, to 512,000, for the week ending Oct. 31, and continuing claims declined 68,000, to 5.75 million, the U.S. Labor Department announced Thursday.

A Bloomberg News survey had expected initial jobless claims to fall to 523,000 this week. The four-week moving average, which economists view as a better indicator because it smooths out anomalies for strikes, holidays or other idiosyncratic events, decreased 3,000 to 523,750. A year ago, initial jobless claims totaled 488,000 and continuing claims totaled 3.86 million.

Here's another sign that the U.S. economic recovery may be mild, not robust: The Institute for Supply Management's Non-Manufacturing Index, also known as the services index, dipped to 50.6 in October from 50.9 in September, the ISM announced Wednesday. Numbers above 50 indicate an expansion in the sector; below 50, a contraction.

A Bloomberg News survey had expected the service index to total 51.6 in October. The index totaled 48.4 percent in August, and hit a low of 37.4 percent in November 2008.

Just call it a month in which the private-sector job market treaded water: It lost 203,000 jobs in October, following a revised 227,000 reduction in September, according to data compiled in the ADP National Employment Report. September's original loss estimate was 254,000. Economists surveyed by Bloomberg News had expected private employers to cut 200,000 jobs in October.

Separately, job-placement firm Challenger, Gray & Christmas said job cut announcements by U.S. employers fell to 55,679 in October, 16 percent lower than in September, CNMoney.com reported Wednesday.

Notch another significant improvement in the nation's manufacturing sector: the Institute for Supply Management announced Monday that its manufacturing index rose to 55.7 percent in October from 52.6 percent in September – the indicator's highest reading since April 2006.

A Bloomberg survey had expected the index to total 53.0 percent in October; the index totaled 52.9 percent in August. It hit a low of 32.9 in December 2008. Readings above 50 indicate an expansion; under 50, a contraction.

Further, the employment component rose to 53.1 percent in October from 46.2 percent: that marks the first time in 14 months that manufacturing employment is adding to economic activity rather than subtracting from it.

Two economic indicators released Monday signal an ongoing U.S. economic recovery. First, construction spending rose 0.8 percent in September, the U.S. Commerce Department announced, well above the 0.2 percent decline expected by economists surveyed by Bloomberg News. Also, pending homes sales rose 6.1 percent in September, the National Association of Realtors said; it was the index's eighth straight monthly rise.

The September rise in construction was boosted by spending on private residential building, which rose 3.9 percent, the Commerce Department said. Further, although August's construction spending total was revised lower to a 0.1 percent decline from the previously released 0.8 percent, U.S. stock markets will probably look past the August data and emphasize the more recent September increase. Also in September, non-residential construction rose 1.8 percent.

Roughly 300 days in to his presidency, President Barack Obama, who campaigned that he would be the nation's first "post-partisan" president of the modern era, has lately exhibited decidedly partisan economic habits.

Case in point: Obama's current proposal to send a second $250 check to every Social Security recipient, disabled veteran, railroad retirement recipient, and citizen who receives a federal and state pension instead of Social Security; the measure would cost about $14 billion. At first glance, the idea has merit: It would serve as an additional stimulus to keep economic momentum headed in the right direction. Aided in part by the fiscal stimulus package passed earlier this year, the U.S. economy started to recover in the third quarter, most economists agree, and putting more money into the hands of consumers will increase aggregate demand in an economy that needs all the demand it can get.

There are two problems. First, from a GDP-impact standpoint, allocating money to senior citizens is not the most effective use of stimulus dollars. Second, the act has more than a tinge of partisan politics associated with it.