Total consumer credit increased $29 billion, up from a $13.8 billion gain in August.The gain in September translates into an annual growth rate of 8.3% in September, up from a 3.8% gain in the prior month.
Nonrevolving credit, typically auto and student loans, rose 7.2% after a 4% growth rate in the prior month. This category of credit is much less volatile. It fell briefly at the start of the pandemic before returning to steady growth, although more recently, it has been depressed by the lack of supply of new cars.
Economist and Weathermen should have a where's waldo convention.
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