Consumer Borrowing in U.S. Rose More Than Forecast in February
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Consumer credit in the U.S. climbed more than forecast in February as Americans took out more loans for motor vehicle purchases and education.
The $18.1 billion increase was the biggest in six months and followed a revised $12.7 billion advance in January, the Federal Reserve said today in Washington. The median forecast in a Bloomberg survey called for a $15 billion gain. Non-revolving debt, which includes financing for autos and college tuition, surged by $17.6 billion, the most since at least 2006.