Consumer Credit Climbs 5.9% In September

Consumer credit grew at a seasonally adjusted annual rate of 5.9%, for a gain of $15.9 billion, the Federal Reserve said Friday, as demand for student and auto loans stayed strong. Nonrevolving debt like car and student loans grew at a 7.3% rate, while revolving debt like credit cards rose at a 2% rate. For the third quarter, consumer credit grew 6.5%.

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