Consumer credit rose $11.36 billion in September, higher than expectations of $10.175 billion.The number marks a considerable slowdown form the month before, although it was expected.
Last month’s figure was revised up to $18.391 billion from $18.123 billion.
Revolving debt (credit cards) fell 4.1 per cent while non-revolving debt rose 9.2 per cent.
Total consumer credit at the end of September stood at $2.74 trillion, or 20.1 per cent of GDP, according to the Federal Reserve.
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