Consumer credit jumps $13.8 billion

U.S. consumer credit rose less than expected in June, held back by the largest decline in credit card use in a year as households continue to pay down debts. Total consumer installment credit increased by $13.8 billion to $2.8 trillion, Federal Reserve data showed on Wednesday. Economists polled by Reuters had expected consumer credit to rise $15 billion during the month. Non-revolving credit, …

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