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U.S. ECONOMICS: Consumer Credit Surges

U.S. consumer credit surged $26.8 billion in April after a revised $19.5 billion increase in March (was $17.5 billion) and a $15.4 billion February gain (revised from $13.0 billion). This is the largest monthly gain since December 2010 when the Fed revamped its data.

Non-revolving credit continued to boost borrowing, up $ 18.0 billion after a $16.4 billion increase previously (revised from $16.4 billion). Revolving credit rose $8.8 billion after a $2.2 billion rise in March (revised from $1.1 billion), the biggest monthly increase since November 2007.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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