Consumer credit up 3% in March
WASHINGTON (MarketWatch) — Consumer credit grew at an annual rate of 3% in March, or by $6.02 billion, according to the latest data from the Federal Reserve released Friday. Revolving credit, which includes credit cards, rose 2.9% and nonrevolving credit, like student and auto loans, increased 3%. The gain in revolving credit was only the second since August 2008. Student loans accounted for all of the gains on the nonrevolving side. In February, consumer credit grew by 3.8%, or $7.56 billion.
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