Consumer Credit Surges Most In Three Years

If you like living beyond your means, you can keep on living beyind your means. US Consumer credit grew by over $26 billion in July – smashing expectations of $17.35bn – and rising by the most since 2011. As usual, the leap was led by non-revolving credit (rising $20.6 billion) as auto and student loans continue to surge.
Consumer credit grew at its fastest pace in three years.

This post was published at Zero Hedge on 09/08/2014.