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U.S. Dec. consumer credit up $6.10 bln

U.S. Dec. consumer credit up $6.10 bln (by Greg Robb)

WASHINGTON (MarketWatch) - U.S. consumers increased their debt for the third straight month in December, the Federal Reserve reported Monday. Total seasonally adjusted consumer debt increased $6.10 billion, or a 3.0% annualized rate, in December to $2.410 trillion. Economists had expected a slightly smaller increase. November consumer credit was revised higher to a $2.0 billion increase compared with the initial estimate of a $1.35 billion rise. Credit card debt increased in December for the first time since August 2008. Credit card debt increased $2.3 billion or 3.5%. Non-revolving credit, such as auto loans, personal loans and student loans, increased $3.8 billion or 2.8%.

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U.S. Dec. consumer credit up $6.10 bln