Consumer Credit Growth in U.S. Cools After November Surge
Photographer: Mark Kauzlarich/Bloomberg
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An $18.4 billion pickup in U.S. consumer debt in December followed an upwardly revised November increase, Federal Reserve data showed Wednesday.
Fourth-quarter revolving debt accelerated from the previous three months, increasing at an annualized 9.7 percent rate. The advance in revolving debt shows larger credit-card balances during the holiday-shopping season. The increase in non- revolving credit outstanding probably reflects steady purchases of motor vehicles.