US consumer credit rises $5.2B in October: Fed
Figure much less than expectation of $9B
By Ovunc Kutlu
ISTANBUL (AA) - Consumer credit in the US rose around $5.2 billion in October from the previous month to reach almost $4.99 trillion, according to Federal Reserve data released Thursday.
The increase came in much less than the market expectation of a $9 billion gain.
"In October, consumer credit increased at a seasonally adjusted annual rate of 1.2 percent," the Fed said in a statement.
"Revolving credit increased at an annual rate of 2.7 percent, while nonrevolving credit increased at an annual rate of 0.7 percent," it added.
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