Total consumer credit increased by $26.85
billion to $3.18 trillion, the Federal Reserve said on Friday.
That meant consumer debt was growing at a 10.2 percent annual
rate, the fastest pace of growth since July 2011.
Analysts polled by Reuters expected a more modest increase
during the month of $15.5 billion.
Revolving credit, which mostly measures credit-card use, jumped
by $8.8 billion. Americans had not added that much revolving
debt in any one month since November 2007.
Non-revolving credit, which includes auto loans as well as
student loans made by the government, rose $18.0 billion in
(Reporting by Jason Lange; Editing by Andrea Ricci)
[© 2014 Thomson Reuters. All rights
Copyright 2014 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.