U.S. consumer credit grows at solid rate in February

The numbers: Total consumer credit rose $15.3 billion in February, down from a revised $19.5 billion gain in the prior month, the Federal Reserve said Friday. That translates into a 3.8% annual rate in February, down from a 4.9% gain in the prior month.

Economists had been expecting a $20 billion gain in February from the initial January estimate of $14.8 billion , according to the Wall Street Journal forecast.

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