Add as a preferred source on GoogleFederal Reserve Releases Figures Showing September Credit Rose $27.84 Billion
The increase followed a revised $8.19 billion gain in August. Consumer credit grew at a 4.2% annualized rate in the third quarter.
The Federal Reserve released September figures showing U.S. consumer credit outstanding rose $27.84 billion, with the monthly annualized growth rate reaching 6.4% after a smaller August gain.
The seasonally adjusted increase followed a revised $8.19 billion rise in August, previously estimated at $8.28 billion. Across the third quarter, consumer credit expanded at a seasonally adjusted annual rate of 4.2%.
Revolving credit grew at a 4.1% annual rate in the quarter, while nonrevolving credit increased at 4.2%.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.