U.S. Consumer Credit Extends Rebound as Auto Sales Increase

U.S. consumer borrowing rose in July for a second month, reflecting an increase in non-revolving credit such as auto loans as the economy reopened more broadly and spending picked up.

Total credit advanced $12.2 billion from the prior month after an upwardly revised $11.4 billion June gain, Federal Reserve figures showed on Tuesday. The median estimate in a Bloomberg survey of economists called for a $13 billion increase.