U.S. Consumer Credit Climbs Less Than Expected In February

Trading 05 avr 2019 Donner votre avis

Consumer credit in the U.S. increased by less than expected in the month of February, according to a report released by the Federal Reserve on Friday.

The Fed said consumer credit climbed by $15.2 billion in February after jumping by a revised $17.7 billion in January.

Economists had expected consumer credit to rise by $17.0 billion, matching the increase originally reported for the previous month.

The report said non-revolving credit such as student loans and car loans increased by $12.2 billion in February after surging up by $15.5 billion in January.

Revolving credit, which largely reflects credit card debt, edged up by $3 billion in February following a $2.6 billion uptick in the previous month.

Compared to the same month a year ago, consumer credit in February was up by 4.5 percent, as revolving and non-revolving credit increased by 3.3 percent and 4.9 percent, respectively.


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