U.S. consumer credit rises in March

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U.S. consumer credit expanded at a 5.8% annual rate in March, reaching $5,140.5 billion. This marks a significant acceleration from February's 2.1% growth. Revolving credit saw a substantial increase of 9.1%, while nonrevolving credit grew by 4.7%. On a non-seasonally adjusted basis, total consumer borrowing increased to $5,081.2 billion.