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U.S. consumer credit growth held back by credit card decline [March 08, 2014] WASHINGTON (Reuters) — U.S. consumer credit grew in January but was held back by a contraction in credit card usage that could be a negative sign for the economy. |
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Total consumer credit rose by $13.7 billion to
$3.1 trillion, the Federal Reserve said on Friday. Economists polled by Reuters had expected consumer credit to
rise by $14 billion in January. Revolving credit, which mostly measures credit-card use, fell by
$226 million during the month. Revolving credit figures can be
volatile. Non-revolving credit, which includes auto loans as well as
student loans made by the government, increased $13.9 billion in
January. (Reporting by Jason Lange; editing by Andrea Ricci) [© 2014 Thomson Reuters. All rights reserved.] Copyright 2014 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
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