Article: US consumer credit increases lightly in December

US consumer credit increases lightly in December

WASHINGTON, Feb. 7 (Xinhua) -- US consumer credit increased at an annual rate of 1.8 percent in December last year to a record 2. 1 trillion dollars, the Federal Reserve reported Monday.

The reading for December represented a gain of 3.1 billion dollars in borrowing from November. However, the gain was considerably smaller than the 8 billion dollars over-the-month rise that economists were forecasting.

In December, demand for revolving credit -- mostly credit cards -- rose at a 1.4 percent annual rate, or by 925 million dollars. That was up from a growth rate of 0.8 percent, or an increase of 554 million dollars, for this type of credit ...

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