Consumer credit balances increased by $US17.5 billion in March to a total of $US3.141 trillion. The gain was a bigger increase than the $US15.5 billion expected by economists.
This was the biggest month-over-month growth rate since February 2013, reports Bloomberg.
Nonrevolving debt like college and auto loans grew by $US16.4 billion.
Revolving debt like credit cards increased by $US1.1 billion.
It’s certainly worth noting that February’s gain was revised down to $US12.9 billion from an earlier estimate of $US16.4 billion.
Here’s a breakdown via the Federal Reserve:
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