BOOM: CONSUMER CREDIT BEATS EXPECTATIONS, JUMPS $16 BILLION

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Photo: Philip Taylor PT

The Federal Reserve’s January G.19 report on consumer credit is out.Total consumer credit outstanding jumped by $16.15 billion, which was ahead of expectations for growth of $14.7 billion.

Revolving debt (e.g. credit cards) climbed by just 0.1 per cent, while non-revolving debt (e.g. car loans) jumped 10.0 per cent.

This only adds to the evidence that suggests consumer deleveraging is over.

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