MAR. CONSUMER CREDIT UP $15.3bln
Mar. Consumer Credit rose $15.3bln, the biggest increase since Nov. and more than twice analysts’ expectations.
The increase followed an upwardly revised $6.5bln uptick in Feb., previously reported as $5.2bln.
The use of revolving credit, such as credit cards, increased by $6.3bln, or 7.9%, in Mar. following a $4.7bln rise the previous month.
Non-revolving credit use, for items such as car, boat, and education loans, edged up $9bln, or 7%, after increasing an upwardly revised 2% in Feb.