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U.S. Consumer Credit Surges by the Most Since Late 2017

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U.S. consumer borrowing surged in February by the most since late 2017 as a broader re-opening of the economy from pandemic restrictions helped spark an increase in credit-card balances.

Total credit jumped $27.6 billion from the prior month, the largest gain since November 2017, after a revised $94 million January gain, Federal Reserve figures showed Wednesday. On an annualized basis, borrowing rose 7.9% in February.