US Consumer Borrowing Posts Small Gain, Limited by Credit Cards

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

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