Consumer Credit Rose $7.7B in October

Newman, Emily
December 2004
Bond Buyer;12/8/2004, Vol. 350 Issue 32025, p2
Trade Publication
The article focuses on borrowing by the Americans which rose in October 2004, according to the U.S. Federal Reserve Board report. Consumer credit grew at an annualized rate of 442%, or $71 billion, to $1093 trillion, following an upwardly revised $13.6 billion rise in September 2004, first reported as a $9.8 billion increase. Comparatively, in October 2003 consumer credit grew at an annualized rate of 4.26%, or $7.1 billion, IFR BondData America's poll of economists had projected a $6.0 billion increase in consumer credit. The consumer credit figure came as both revolving credit lines and non-revolving credit lines rose. Revolving credit lines increased at an annualized rate of 1.83%, or $1.2 billion, to $788.9 billion in October 2004 following a revised $11.1 billion increase in September 2004, initially reported as a $6.2 billion gain.


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