Consumer Credit Steady: Consumers took out $4.36...

Consumer Credit Steady: Consumers took out $4.36 billion in installment loans during January for a total of $670.6 billion in outstanding debt, the Federal Reserve said. The annual rate of growth of consumer installment credit was 7.9% in January after adjustment for seasonal variations, about the same as during December, the Fed said. People took out loans for cars and used their revolving credit cards at a slower pace in January than in December, but other personal borrowing increased, the Fed said. The $4.36-billion increase took the total outstanding consumer installment debt to a seasonally adjusted $670.6 billion, 8.4% higher than in January, 1988, the Fed said.