Consumer Borrowing Slowed in February
From Bloomberg News
Consumer borrowing through credit cards and auto loans slowed in February as Americans bought fewer new cars and trucks, Federal Reserve statistics showed.
Household credit rose 1%, or $1.5 billion, the Fed said, after rising $12.3 billion in January.
Nonrevolving credit, which includes auto loans and accounts for almost two-thirds of the report, posted its biggest drop since October 1991. The category fell 4.6% to $1.019 trillion.
