Consumer Credit in U.S. Posts Smallest Gain in Seven Months
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U.S. consumer debt outstanding rose in April by the least in seven months, reflecting a slowdown in non- revolving credit, Federal Reserve figures showed Thursday.
The slowdown in non-revolving debt, which includes education and auto loans, marks a shift from the first three months of the year when such credit rose by an average $13.5 billion. The figure may partly reflect more moderate demand for motor vehicles following several years of robust gains.