Feb. consumer credit jumps by most in 6 months

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Feb. consumer credit jumps by most in 6 months
WASHINGTON (MarketWatch) -- U.S. consumers increased their debt in February by a seasonally adjusted $18.1 billion, the most since last August, the Federal Reserve reported Friday. The increase is above January's $12.7 billion pace. Monthly debt rose at a 7.8% pace in February, after a 5.5% pace in the prior month. The increase in consumer credit in February was larger than expected by Wall Street economists. As has been the recent trend, the February gain was led by the non-revolving category of debt, such as auto loans, personal loans, and student loans, which jumped $17.6 billion, or 10.9%, the largest percentage gain since July 2011. Credit-card debt increased by a slight $532 million, or 0.75%, in the month.