Consumers cut back borrowing in August as confidence falls
The Federal Reserve reported a seasonally adjusted annual drop of 1.4 percent in consumer credit for August, down $2.4 billion from July, the largest dollar decline since December 1990. Total credit outstanding stood at $2.04 trillion as confidence waned and energy prices rose to $52.67 a barrel.
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Japanese cars dominate fuel efficiency list for 2005
Eight of the top ten fuel efficient models come from Honda or Toyota with the Honda Insight hybrid leading at 61 mpg city and 66 highway. Ford claims the most efficient SUV and pickup, while Chevrolet tops large sedans and vans. The EPA and Energy Department note that tests assume 55 mph and may not reflect city driving or larger vehicles.
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