Consumer Credit in U.S. Rose More Than Forecast in December


08/02/2014 08:25 AST

Consumer borrowing in the U.S. increased more than forecast in December as Americans made holiday purchases with credit cards and took out loans for cars and schooling.

The $18.8 billion gain exceeded the highest estimate in a Bloomberg survey and followed a revised $12.4 billion advance the previous month, the Federal Reserve said today in Washington. The median forecast of 30 economists called for a $12 billion increase. For all of 2013, consumer credit increased 6.2 percent after rising 6.1 percent a year earlier.

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