Consumer Credit Rises $18.1 Billion In February, Big Downward Revision To January

Total consumer credit in the United States expanded 7.8 per cent at an annualized rate – or $18.1 billion – in February, ahead of expectations of a $15 billion expansion.

Revolving credit – credit cards and the like – rose 0.8 per cent at an annualized rate to $848 billion in December.

Non-revolving credit – auto loans and the like – increased 10.9 per cent at an annualized rate to $1.95 trillion.

The rate of expansion in total consumer credit was up significantly from January, when credit expanded $12.7 billion.

January consumer credit growth was revised down from a $16.2 billion initial reading.

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