CONSUMER CREDIT BALANCES SURGE

Consumer credit balances expanded by $26.0 billion in July.

This was much bigger than the $17.35 billion expected by economists.

Non-revolving debt, which includes auto loans and student loans, jumped by $20.6 billion. This was the biggest monthly gain since July 2011.

Revolving debt, which includes credit card balances, climbed by $5.4 billion.

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