Pace of Consumer Credit Slows in March

Consumers took on debt at a slower pace in March, the Federal Reserve said, as the start of the war in Iraq may have weighed on borrowers’ outlooks.

The Fed said consumer credit increased by $900 million in the month, the smallest gain since a decline in debt in November 2002. February’s gain, originally reported as $1.5 billion, was revised lower to a $1.3-billion advance.