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U.S. Consumer Credit Up, But Credit Card Usage Down

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Visa & MasterCard

(Reuters) – U.S. consumer credit rose more than expected in August, but a third straight month of decline in credit card usage was consistent with recent tepid consumer spending.

Total consumer credit advanced by $13.63 billion to $3.04 trillion, Federal Reserve data showed on Monday.

Economists polled by Reuters had expected consumer credit to rise $12 billion in August after a previously reported $10.44 billion increase in July. This was revised down to a gain of $10.40 billion.

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