U.S. consumer credit rises less than expected in June

A woman shops for jeans at a J.C. Penney store in New YorkBy Paige Gance WASHINGTON (Reuters) – U.S. consumer credit rose less than expected in June, Federal Reserve data showed on Wednesday, as loans for items such as cars and education increased while credit card use fell by the most in a year. Total consumer installment credit increased by $ 13.8 billion to $ 2.8 trillion. Economists polled by Reuters had expected consumer credit to rise $ 15 billion during the month. "I think this report speaks to a well-functioning credit marketplace," said Ezra Becker, vice president of research and consulting at TransUnion in Chicago. …

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