U.S. Consumer Credit Grows by $4.6 Billion
Reuters
U.S. consumers added debt to their balance sheets at a slightly slower-than-expected pace in March, a report from the Federal Reserve showed.
The Fed said consumer credit outstanding grew by $4.6 billion to a seasonally adjusted $1.69trillion, the smallest gain since December 2001. In March, revolving credit--debt linked to credit and charge cards--rose $1.5 billion, its slowest pace since December 2001.
Nonrevolving debt, including closed-end loans for cars, education expenses, recreational vehicles, boats and vacations, grew by $3.1 billion.
