Over the past year, consumer credit has been consistently solid with no monthly gains below 5% and that trend continued in February when it grew at a seasonally adjusted annual rate of 5.8%, for a gain of $17.2 billion, reports MarketWatch’s senior economics reporter Greg Robb, citing the Federal Reserve.

The gain was above market expectations of a $14 billion gain and puts total consumer borrowing, which does not include mortgage debt, at $3.57 trillion.

Federal Reserve officials believe that consumer spending will be relatively healthy this year given the recent strong job gains. At their meeting in March there were more worries about headwinds the economy faces from a weaker global outlook, according to minutes released Wednesday.

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