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Consumer Credit in U.S. Increases on Jump in Non-Revolving Debt

From bloomberg.com

Consumer borrowing in the U.S. increased in February as the value of non-revolving debt climbed by the most since July 2011. The $15.5 billion advance in household credit followed a $10.8 billion gain in January that was smaller than initially reported, Federal Reserve figures showed Tuesday in Washington. A surge in non-revolving loans such as those for automobile purchases and education more than offset the biggest drop in revolving credit since November 2010. Consumers burned by mounting debt during the recession will need to see economic improvement in the way of wage gains and job growth to feel more comfortable ... (full story)

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