US consumer credit rises $5.2B in October: Fed

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.