US consumer borrowing rose in March by the smallest amount this year as Americans relied less on credit cards.
Total credit increased $6.3 billion after an upwardly revised $15 billion gain in February, according to Federal Reserve data released Tuesday. The March figure was below all but one estimate in a Bloomberg survey of economists.
Revolving credit, which includes credit cards, rose $152 million, the smallest increase since falling three years ago. Non-revolving credit, such as loans for vehicle purchases and school tuition, increased $6.1 billion, a pickup from the prior month. The figures aren’t adjusted for inflation.
Molly Smith | Yahoo Finance