NEW YORK – Consumer credit increased by $5.0 billion, or 2.5%, in January, the Federal Reserve reported Monday.
Processing Content
Total consumer credit increased $4.1 billion, or 2.0%, in December, previously reported as a $6.1 billion rise.
Economists expected January consumer credit would increase by $3.9 billion, according to the median estimate from Thomson Reuters.
January revolving credit, which includes credit card loans, fell by $4.2 billion, or 6.4%.
Non-revolving credit, which includes loans for cars and education, increased by $9.2 billion, or 6.9%.
