Consumer credit rises less than expected in August

Consumer credit in August rose less than expected.

Credit rose by $US16 billion, below expectations for a $US19.5 billion expansion.

In July, consumer credit rose by $US19.1 billion, or 6.7%, on a seasonally adjusted annualized basis to $US3.4 trillion.

This was revised lower to show a $US18.9 billion increase in consumer credit in July.

More to come …

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