Consumer Credit Up $20.5 Billion In April On Jump In Credit Card Use

MarketWatch Pulse

Consumer credit grew at a seasonally adjusted annual rate of 7.3%, for a gain of $20.5 billion in April, the Federal Reserve said Friday. This is the second straight monthly gain above 7%. Credit-card debt jumped at an 11.6% rate in April, the fastest pace in a year. Non-revolving debt, mainly car and student loans, which has powered credit growth in recent years, expanded at a 5.8% rate in April, down from an 8.1% gain in March.

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