CONSUMER CREDIT RISES MORE THAN EXPECTED

The Federal Reserve just released U.S. consumer credit data for the month of August.

Total credit expanded $US13.625 billion (or 5.4%) in August to $US3.037 trillion.

Economists expected a smaller, $US12.0 billion expansion after an upward-revised $US10.4 billion advance in July.

Revolving credit — credit cards and the like — fell $US0.9 billion (1.2%) to $US848.9 billion.

Non-revolving credit — auto loans, student loans, and the like — advanced $US14.5 billion (8.0%) to $US2.188 trillion.

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