Fed: Consumer Debt Up 3.3% in January

The Federal Reserve published its consumer credit report today, revealing that consumer debt increased at an annualized rate of 3.3% in January, to 2.5245 trillion dollars, an increase of 6.9 billion dollars over December 2007.

Non-revolving debt, such as mortgages, increased by only 1.1% annualized, while revolving debt such as credit card debt increased by 7% on an annualized basis ($5.6 billion).

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