Tags: student | loans | consumer | credit

Consumer Credit Rises, Likely Boosted by Student Loans

Monday, 07 Apr 2014 03:20 PM

U.S. consumer credit rose more than expected in February, likely reflecting a surge in demand for student and automobile loans.

Total consumer credit increased by $16.49 billion to $3.13 trillion, the Federal Reserve said on Monday. January's consumer credit figure was revised to show a $13.8 billion increase instead of the previously reported $13.7 billion gain.

Economists polled by Reuters had expected consumer credit to rise by $14.09 billion in February.

Revolving credit, which mostly measures credit-card use, tumbled by $2.42 billion after January's $241-million drop. It was the second straight month of declines.

Nonrevolving credit, which includes auto loans as well as student loans made by the government, surged $18.91 billion in February. That was the biggest gain in a year and followed a $14.04 billion increase in January.

© 2017 Thomson/Reuters. All rights reserved.

   
1Like our page
2Share
Headline
U.S. consumer credit rose more than expected in February, likely reflecting a surge in demand for student and automobile loans.
student,loans,consumer,credit
130
2014-20-07
Monday, 07 Apr 2014 03:20 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved