U.S. Consumer Credit Increases $18 Billion in August

October 8, 2012, Written By Lynn Oldshue

The latest monthly report from the Federal Reserve shows that U.S. consumer credit increased by $18.12 billion to $2.726 trillion from July to August.

Consumer credit rose at an 8.03% annualized rate. This was the fastest expansion in three months.

Revolving credit, which includes credit card debt, rose to $854.9 billion in August, an increase of $4.2 billion, or 5.9 percent.

Consumers may be spending more as the employment figures improve. Unemployment dropped to 7.8% percent in September.



The information contained within this article was accurate as of October 8, 2012. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.


About Lynn Oldshue

Lynn Oldshue has written personal finance stories for LowCards.com for twelve years. She majored in public relations at Mississippi State University.
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