WASHINGTON — The rate of borrowing by Americans declined for the first time in 10 years during August, a sign of building stress on household finances.

Consumer credit outstanding decreased $7.9 billion in August to $2.577 trillion, according to a Tuesday report from the Federal Reserve. That follows a $5.2 billion consumer credit increase in July, which is an upward revision from a previously estimated $4.6 billion increase.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.