Consumer Credit Rises 5.8% In September

hatrack

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Mon Nov-08-04 10:30 AM
Original message

Consumer Credit Rises 5.8% In September

WASHINGTON - Consumers borrowed more freely in September, especially when it came to racking up charges on credit cards, the Federal Reserve said Friday.

The latest snapshot of people's appetite to borrow showed that consumer credit rose by $9.8 billion, or a seasonally adjusted annual rate of 5.8 percent, in September from August.

The increase left Americans' consumer credit outstanding at $2.05 trillion.

The figures are consistent with a strong retail sales report for September released by the government last month. That report suggested shoppers ignored soaring energy prices and rediscovered their urge to splurge."

EDIT

http://www.stltoday.com/stltoday/business/stories.nsf/story/E3E9A02E2C613ADE86256F4400089D5E?OpenDocument&Headline=Consumer+credit+rises+5.8%+in+September

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Moderator

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Mon Nov-08-04 10:34 AM
Response to Original message

1. Sorry this article

is not Latest Breaking News. Dated Nov. 6th.
Feel free to re-post in another forum.

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