Consumer credit grows less than expected in March
Consumer credit increased by $11.6 billion in March to $3.875 trillion, the Federal Reserve reported Monday.
In February, consumer credit rose a revised $13.6 billion to $3.863 trillion.
Economists polled by IFR Markets predicted a $16 billion increase in the month.
Revolving credit outstanding in March fell $2.6 billion to $1.027 trillion from $1.030 trillion the previous month.
Non-revolving credit rose $14.2 billion to $2.848 trillion from $2.834 trillion.
Revolving credit includes credit card debt. Non-revolving debt includes automobile loans, loans for mobile homes, education, boats, trailers, or vacations.