Consumer credit surges again in March

WASHINGTON (MarketWatch)
U.S. consumers increased their debt in March by a seasonally adjusted $21.3 billion, the Federal Reserve reported Monday
This is the seventh straight monthly gain in consumer borrowing
The increase in March, the largest since November 2001, was double the roughly $10 billion gain expected by Wall Street economists
Most of the increase came from non-revolving debt such as auto loans, personal loans and student loans-these three categories combined for a $16.2 billion jump in March
Credit card debt rose by $5.1 billion in the month after a $2.3 billion decline in February
Consumer credit increased at a 7.75% annual rate in the first quarter