U.S. Consumer Credit Jumps $16.4 Billion In March

By Greg Robb Markets MarketWatch Pulse

Consumer borrowing rose solidly in March, according to data released Friday, suggesting the consumer has not completely retrenched. Total consumer credit increased $16 billion in March of a 5.2% seasonally adjusted annual rate, the Federal Reserve reported Friday. The increase was also above economist estimates for a $13 billion gain in consumer credit in March, according to Econoday. Consumer spending increase a revised $13.8 billion in February, down slightly from the initial estimate of $15.2 billion. The U.S. economy got off to a slow start this year as consumers dialed back spending. The Fed said earlier this week that the slump in first quarter growth was temporary.

Continue Reading Below

Copyright © 2017 MarketWatch, Inc.