US Consumer Borrowing Growth Slows After Near-Record Surge
Stubborn inflation, high borrowing costs and the end of pandemic savings continue to take a toll on household finances.
Photographer: Simon Dawson/BloombergThis article is for subscribers only.
US consumers dialed back the pace of borrowing in February after a near-record increase a month earlier.
Total credit increased $18.1 billion in January after a revised $37.1 billion jump in December, according to Federal Reserve data out Friday. The median estimate in a Bloomberg survey of economists called for a $14.9 billion advance.