U.S. Consumer Credit Rises 3.8% Annualized In February
Posted By thestatedtruth.com on April 7, 2011
Here is the secret sauce…..revolving credit, or credit cards, actually fell during this period, down 4%. But non- revolving credit, which includes student, auto, and other loans, increased by 7.7%. Interesting to note that January’s numbers were revised down which had the effect of making these February numbers look even better.
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U.S. consumer credit surged 3.8% annualized in February, ahead of expectations. Expectations were for a smaller $5 billion rise. What we got was a $7.6 billion rise, beyond market expectations.
Surprisingly, revolving credit, or credit cards, actually fell during this period, down 4%.
Non-revolving credit, which includes student, auto, and other loans, increased by 7.7%
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