Enter multiple symbols separated by commas

US Consumer Credit Posts Biggest Jump in 6 Months

Getty Images

U.S. consumer credit in February recorded its biggest increase in half a year as consumers borrowed money for cars and student loans, Federal Reserve data showed on Friday.

Total consumer credit expanded by $18.14 billion to $2.799 trillion. Economists polled by Reuters had expected consumer credit to rise $15 billion in February.

Nonrevolving credit, which includes auto loans as well as student loans made by the government, rose $17.6 billion in February, following a downwardly revised $11.1 billion rise in January.

Revolving credit, which mostly measures credit-card use, nudged higher by $532.8 million after rebounding a revised $1.65 billion in January.

Contact Economy


    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.