THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Saturday, April 8, 1995 TAG: 9504080316
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
TYPE: Daily Digest
LENGTH: Short : 25 lines
Consumer credit rose $8.2 billion in February, a strong gain but less than the previous month's increase of $9 billion. The latest rise in installment debt - the 27th consecutive monthly advance - amounts to a 10.6 percent increase at an annual rate, the Federal Reserve said Friday. Credit climbed 11.9 percent in January, revised upwards from an earlier reported 10.1 percent jump. While most signs point to a slowdown in consumer spending this year from the torrid pace that closed out 1994, February's rise in debt was larger than analysts expected. Still, analysts said the growth rate in consumer credit appears to have peaked in November when it soared at a 17.7 percent rate. Consumer credit includes all household debt not secured by real estate, such as home equity loans and home mortgages. (AP) by CNB