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David Sims is a Certified Public Accountant residing in Richmond, Virginia.
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  • Consumer Credit Increased At 8% In May 2012 0 comments
    Jul 9, 2012 3:53 PM

    The Federal Reserve reports that,

    "Consumer credit increased at an annual rate of 8 percent in May. Revolving credit increased at an annual rate of 11-1/4 percent, while nonrevolving credit increased at an annual rate of 6-1/2 percent."

    Total outstanding consumer credit rose from $2,555.7 billion to $2,572.8 billion for the period from April to May 2012. The rate charged for a 48-month car loan dropped to 4.87% from 5.07% in the first quarter.

    (click to enlarge)

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