Bloomberg
Published Oct 07, 2019 03:13PM ET
Updated Oct 07, 2019 03:53PM ET
U.S. Consumer Credit Tops Forecast on Non-Revolving Debt
(Bloomberg) -- U.S. consumer credit increased more than forecast in August as school loans and other non-revolving debt rose by the most in three years.
Total credit climbed $17.9 billion from the prior month, after a revised $23 billion gain in July that was the largest since late 2017, Federal Reserve figures showed Monday. The median estimate in a Bloomberg survey of economists called for a $15 billion increase. Outstanding non-revolving credit jumped $19.8 billion.
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Written By: Bloomberg
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