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

Consumer borrowing in the U.S. rose more than forecast in February, reflecting the biggest gain in automobile, school and other non-revolving loans in a year.

The $16.5 billion advance in credit exceeded all estimates in a Bloomberg survey of economists and followed a revised $13.8 billion gain in the previous month, Federal Reserve figures showed today in Washington. The median forecast in the Bloomberg survey called for a $14 billion increase.