Consumer Credit Grows Less Than Expected

Consumer credit balances grew by $US13.5 billion in August.

The report showed that revolving credit balances, which typically reflects credit card balances, fell by $US200 million in August.

Expectations were for consumer balances to expand by $US20 billion. In July, consumer credit balances expanded by $US26 billion, much larger than what was expected.

More to come…

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