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Consumer Credit Rises in December

Posted on 2/8/2011

Consumer credit rose at a 3 percent annual rate -- or $6.10 billion -- in December, the third consecutive monthly increase, the Federal Reserve reported yesterday. Revolving credit, the borrowing category that includes credit cards, increased at a 3.5 percent annual rate, or $2.3 billion in December, the first monthly rise since August 2008. The demand for auto loans and other types of non-revolving credit rose at a 2.8 percent annual rate, or $3.8 billion. Read more.

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