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Post by bot on Jun 7, 2015 10:25:48 GMT -5
Consumer credit up $20.5 billion in April on jump in credit card use
WASHINGTON (MarketWatch) - Consumer credit grew at a seasonally adjusted annual rate of 7.3%, for a gain of $20.5 billion in April, the Federal Reserve said Friday. This is the second straight monthly gain above 7%. Credit-card debt jumped at an 11.6% rate in April, the fastest pace in a year. Non-revolving debt, mainly car and student loans, which has powered credit growth in recent years, expanded at a 5.8% rate in April, down from an 8.1% gain in March.
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