Consumer Credit Up at 7.2% Rate: Americans...
From Times Staff and Wire Service Reports
Consumer Credit Up at 7.2% Rate: Americans took out $4.24 billion more in consumer credit than they retired in November, the largest increase in their outstanding debt in nine months, the Federal Reserve reported. Some analysts said the jump reflected overall consumer optimism despite pockets of sluggishness in the economy. The Fed said consumer credit in November advanced at a seasonally adjusted annual rate of 7.2% on top of a 5.4% gain in October. It was the highest level of consumer debt since last February, when $5.38 billion was posted.
