Zeev's Turnips Patch-No Politics (ZEEV)

[marketmaven]

U.S. July consumer credit rises $10.9 billion
(GT, consumer already spending like there's no tomorrow)
By Corbett B. Daly
WASHINGTON (CBS.MW) -- U.S. consumer credit expanded by $10.9 billion, or a 6.4 percent annual rate, in July to a seasonally adjusted $2.04 trillion, the Federal Reserve said Wednesday. Revolving credit, such as credit cards, rose by $5.6 billion, or 9 percent. The rise was the first increase after five consecutive monthly declines. Nonrevolving credit, such as auto loans, rose by $5.3 billion, or 5 percent. June's increase in credit was revised to $4.3 billion from $6.6 billion earlier.