Consumer credit unexpectedly rose by $2.1 billion in September, at an annualized rate of 1.1%, to $2.412 trillion, the U.S. Federal Reserve announced Friday. But the rise was only a partial victory for those who argue that credit expansion is required for the economy to get back on track as credit card debt fell for the second straight month.
A Bloomberg survey had expected consumer credit or…
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Consumers Borrow More for New Cars, Student Loans originally appeared on DailyFinance on Sat, 06 Nov 2010 09:45:00.