Consumer Credit Grew 8.5% in August
Consumer credit increased at a seasonally adjusted annual rate of 8.5% in August, up from a 5.9% rate in July. Total outstanding credit rose $25.9 billion during the month (compared with $14.5 billion in July) to $3.69 trillion. Revolving credit rose at an annual rate of 7.0% to $974.6 billion, compared to a 3.5% increase