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The American borrowing spree is accelerating, government figures show.

The Federal Reserve reports that consumer credit rose $11.6 billion in October, the 23rd straight monthly gain and a more rapid increase than in September, when it jumped $10.3 billion.Installment debt rose 15.8 percent at an annual rate in October, compared to 14.3 percent in September and 21.3 percent in August. The August surge was the largest since credit climbed $16.3 billion in January 1989.

Consumer credit includes all household debt not secured by real estate, such as home equity loans and home mortgages. The totals are adjusted for seasonal variations.

The Fed said revolving credit, including credit cards, picked up in October after slowing the previous month. It increased at an 18.2 percent rate in October, compared to 5.4 percent in September and 29.7 percent in August.

The growth in revolving credit totaled $4.9 billion in October, after increasing $1.5 billion the previous month and $7.8 billion before that.

Auto loans rose at an 11.1 percent rate in October, down from 21.1 percent in September and 17.8 percent in August. The increases were $2.9 billion, $5.4 billion and $4.5 billion, respectively.

The category that includes loans for mobile homes, education, boats, trailers and vacations picked up its pace. It rose at a 19 percent rate, a $3.8 billion increase, compared to 17.3 percent in September, or $3.4 billion, and 14.5 percent in August, or $2.9 billion.

The increases boosted total outstanding consumer credit to $891.6 billion.