Consumer Credit in U.S. Increases Less Than Forecast
This article is for subscribers only.
Consumer borrowing in the U.S. climbed less than projected in March as Americans reduced credit-card purchases for the first time this year.
The $7.97 billion increase followed an $18.6 billion advance the previous month that was the biggest since May 2012, Federal Reserve figures showed today in Washington. The median forecast in a Bloomberg survey called for a $15.6 billion rise. Revolving credit, which includes credit-card spending, fell, while non-revolving borrowing rose.