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Photographer: Simon Dawson/Bloomberg

U.S. consumer borrowing rose at a slower pace in March as credit-card debt outstanding declined by the most since the end of 2012, Federal Reserve figures showed Monday. Total credit increased $11.6 billion (est. up $15.2 billion) and prior month revised up to $13.6 billion gain (prev. $10.6 billion) Revolving credit outstanding dropped $2.6b m/m, after a $515 million decrease in Feb. Non-revolving debt outstanding climbed $14.2 billion for a second month. A 0.9% annualized decline in first-quarter credit-card debt outstanding shows a waning appetite for borrowing after a 10.3% surge in the final three months of 2017.

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