U.S. consumer credit increases 4.6 percent in 2006

U.S. consumer credit increased by 4.6 percent in 2006, up from a 4.2 percent gain in 2005 but down from a 5.5 percent rise in 2004, the Federal Reserve reported Wednesday.

In the final three months of 2006, consumer credit rose at an annual rate of 3.7 percent, down from a 5.5 percent pace in the third quarter.

For December, consumer credit increased at a 3 percent annual rate, the smallest gain since October last year and far below the 6.9 percent surge in November.

Read more at: U.S. consumer credit increases 4.6 percent in 2006