Consumers boosted installment borrowing a healthy annual rate of 10.1 percent in August on the strength of increases in automobile and revolving loan credit, the government reports.

The hike, representing $5.4 billion, followed a 6.7 percent increase in July when consumers borrowed $3.6 billion, according to the Federal Reserve Board.Outstanding installment credit at the end of August totaled $653.4 billion.

In August, credit extended for car purchases totaled $2.3 billion, up 4.7 percent from July. Revolving credit advanced from July to August by 18 percent, or $2.6 billion, the Fed said.