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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: ild who wrote (13064)	10/7/2004 3:27:17 PM
From: mishedlo	Respond to of 116555

U.S. Aug. consumer credit unexpectedly down 1.4% By Corbett B. Daly WASHINGTON (CBS.MW) -- U.S. consumer credit contracted by $2.4 billion, or a 1.4 percent annual rate, in August to a seasonally adjusted $2.04 trillion, the Federal Reserve said Thursday. Revolving credit, such as credit cards, fell by $3.3 billion, or 5.4 percent. The fall was the seventh decline in nine months. Nonrevolving credit, such as auto loans, rose by $935 million, or 0.9 percent. July's increase in credit was revised to $11.2 billion from $10.9 billion earlier. Economists polled by CBS MarketWatch had forecast an increase of $6.3 billion in August.