Consumer Debt Up Sharply in October: Americans...

Consumer Debt Up Sharply in October: Americans took out $3.34 billion more in consumer credit than they retired in October, posting the biggest increase in net consumer debt in five months, the Federal Reserve Board reported. The Fed said consumer credit advanced in October at a seasonally adjusted annual rate of 5.7%, the sharpest increase since a 7.3% gain in May, when credit rose $4.21 billion. Consumer credit outstanding had risen 2.3% in September, which was revised upward from the 1% increase originally reported. Net loan totals were adjusted from $606 million to $1.37 billion.